Advertisements
Get Ignite
TRENDING
  • Submit Press Release
  • Our Team
  • Editorial Policy
  • Home
  • Crypto News
  • Finance News
  • Gaming News
  • Tech News
  • Tech Guides
  • Editorial
Get Ignite

Government tightens FDI rules, protecting Indian companies from China

by Dev Rathore
in Finance News
2 min read
Government tightens FDI rules, protecting Indian companies from China
13
SHARES
Share on FacebookShare on Twitter

China, Asia’s largest economy, is making its move to acquire more shares from the different countries companies even in the coronavirus crisis. In fact, the People’s Bank of China, china’s central bank, has bought 1.75 crore shares of HDFC Ltd., a housing loan giant. Following the news, the central government is now trying to protect Indian companies from China. That is why the government has changed the rules on foreign investment. However, the government has not mentioned China changing these rules.

Under the new change, citizens or companies of any country bordering India will now have to seek government approval before investment. So far only the citizens of Pakistan and Bangladesh/Bangladesh have been able to access the same. Companies only needed approval. It is not necessary for neighboring countries like China. Many other countries have already tightened the rules to prevent Chinese companies from taking such a move.

According to the information given to BSE, the Chinese central bank’s share in HDFC is 1.01 percent after the investment. HDFC already has more than many foreign companies or entities. These include the Invesco Oppenheimer Developing Market Fund (3.33 percent), the Singapore government (3.23 percent) and the Vanguard Total International Stock Index Fund (1.74 percent).

China’s central bank has made the purchase at a time when HDFC limited shares have fallen due to the coronavirus epidemic. HDFC shares declined 32.29 percent in the March quarter due to weak commitment. The stock was trading at around Rs 2500 in January, now at Rs 1600. This has given investors an opportunity to buy shares at a lower price.

Advertisements

The entire issue was followed by questions raised by the main opposition party leader Rahul Gandhi. In a tweet, he said that the economic sluggishness in the country has weakened Indian corporate companies considerably, which is why they are becoming targets for takeovers. The government should not allow a foreign company to acquire rights over an Indian company in the event of this crisis.

Dev Rathore

Dev is a Digital Entrepreneur and keen follower of the Crypto and Blockchain world. He has spent five years working as Digital Marketing Manager where he helped finance professionals and Fin-tech startups build an audience and get more paying clients online.

Dev enjoys exploring the latest technology and news related to Fintech world. He is a go-to person with a positive attitude towards life.

Advertisements
Share5Tweet3Send

Related Posts

Google Pay: Your personal data is being stored? Case in Delhi High Court on 14th
Finance News

Google Pay: Your personal data is being stored? Case in Delhi High Court on 14th

IRCTC
Finance News

IRCTC New Website: 10,000 tickets booking every minute

sensex
Finance News

Brexit Trade Agreement: Sensex-Nifty’s new record, reaches new high

Chinese economy
Finance News

Chinese Economy Prepare to Surpass the U.S earlier than anticipated

GDP growth to remain positive in FY21 3rd quarter, faster than expected recovery: RBI bulletin
Finance News

GDP growth to remain positive in FY21 3rd quarter, faster than expected recovery: RBI bulletin

Titan’s second-quarter results: Profit down 38% to Rs 199 crore
Finance News

Titan’s second-quarter results: Profit down 38% to Rs 199 crore

Next Post
mutual funds

Mutual fund buying and selling 'cut-off time' reduced till April 30

About Us

At GetIgnite, We aim to bring impartial and accurate news and information about a wide range of topics within the Finance and Technology Field. We are a team of enthusiasts and professionals who work hard to produce a reliable piece of information. We cover a broad segment of the FinTech Industry and attempt to provide updates about changes taking place in this fast-paced world.

Contact Us

Email us at [email protected]

  • Home
  • Crypto News
  • Finance News
  • Gaming News
  • Tech News
  • Tech Guides
  • Editorial
Advertisements
  • About Us
  • Contact Us
  • Editorial Policy
  • Privacy Policy
  • Terms And Conditions
  • Use Of Cookies
  • Our Team
  • Submit Guest Post

© 2022 GetIgnite. All Rights Reserved.

  • Home
  • Crypto News
  • Finance News
  • Gaming News
  • Tech News
  • Tech Guides
  • Editorial

© 2022 GetIgnite. All Rights Reserved.