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Finance

China's central bank ups stake in India's biggest mortgage lender

People's Bank's 1% holding draws political attention amid coronavirus battle

Housing Development Finance Corp is India's leading financial group, and includes commercial lender HDFC Bank as well as insurance companies.   © Reuters
KIRAN SHARMA, Nikkei staff writer | India

NEW DELHI -- The People's Bank of China, China's central bank, has raised its stake in Housing Development Finance Corp., India's largest mortgage company, to 1.01% from 0.8%, HDFC said in a filing to the stock exchange.

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