- The People's Bank of China increased its stake in Housing Development Finance Corp Ltd (HDFC.NS) to 1.01% from 0.8%.
- China's central bank held about 17.5 million shares in HDFC, as of March-end, according to quarterly data filed to exchanges by India's biggest mortgage lender.
- China-backed funds are seeking to buy Indian financial assets after the Covid-19 outbreak caused a major slump in the valuation of local companies.