India govt concerned over China’s central bank raising stake in lender HDFC

India govt concerned over China’s central bank raising stake in lender HDFC

Photo: Pradeep Gaur/Mint

The government has taken note of China’s central bank raising its stake in Housing Development Finance Corporation Limited (HDFC), India’s largest mortgage lender, and is unhappy no red flag was raised over it, according to a source familiar with the development.