China's central bank, People's Bank of China, was one of the investors in ICICI Bank during the private lender's recent Rs 15,000 crore capital raising, despite
This comes even as India and China continue to exchange barbs over border issues that had led to India amending its FDI norms and taking a closer look on Chinese money pouring into Indian entities.
People's Bank of China (PBOC) was on the list of 357 institutional investors who subscribed to the qualified institutional placement (QIP), injecting Rs 15 crore into ICICI Bank, Business Today reported.
The list included Government of Singapore, Morgan Investment and Societe Generale, as well as domestic mutual funds, insurance companies, and global institutions.
Also Read: ICICI QIP | Singapore central bank largest investor, nets 11% of Rs 15,000 crore issue
Moneycontrol could not independently verify the report.
Experts quoted in the report say that the investment by a Chinese bank in ICICI Bank does not pose a threat since the banking sector is highly regulated.
PBOC was on the Indian government's radar recently after it raised its stake in mortgage lender HDFC to slightly over 1 percent during the quarter that ended on March 31, 2020.
PBOC cut their stake later, since it was not mentioned in HDFC's shareholding disclosure for the June quarter.
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