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

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.

As of the end of March, the PBoC held about 17.5 million shares in HDFC, according to the quarterly shareholding pattern data shared by the Indian lender on the BSE, formerly known as the Bombay Stock Exchange, over the weekend. The disclosure came as the PBoC stake hit the 1% regulatory threshold.

It is very rare for China’s central bank to be spotted

Read More

Indonesia’s top lender expects coronavirus to boost digital banking

JAKARTA — The coronavirus outbreak could serve as a catalyst for Indonesia become a cashless society and embrace digital banking, a director at Indonesia’s biggest bank by assets said, as people stay indoors for to avoid infection.

Though no official lockdowns are in place in the archipelago and banks remain open as they are deemed essential services, digital banking services are seeing a rise in demand, according to Indra Utoyo, director of digital, information technology and operation at Bank Rakyat Indonesia.

This is an “opportunity to support more transactions as efficiently as possible, and this is [done through] digital. This

Read More