CHINA CENTRAL BANK CAUTIOUSLY PURCHASING STAKES IN INDIAN COMPANIES: REPORTS

Highlights

• People’s Bank of China (PBoC) holds 1 percent stake in HDFC, 0.43 percent in Piramal Enterprises and 0.32 percent in Ambuja Cement

• According to the reports, Chinese banks are intentionally buying stakes in those companies that are strategically i...

SHRIRAM FINANCE HOLDS THE PLAN TO MERGE WITH RBI

Highlights:

• Shriram finance holds the plan to merge with Reserve bank of India (RBI) after the Indian central bank has requested it to cut its stake in the insurance sector.
• The central bank initiated the request as the insurance sector is not the rem...