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Sebi seeks details of beneficiaries of FPIs from China, HK

Sebi seeks details of beneficiaries of FPIs from China, HK

The lurking fear of wealthy Chinese investors raiding the Indian stock market seems to be taking root. 

Securities & Exchange Board of India (Sebi) has asked custodian banks to disclose details of `ultimate beneficial owners’ of foreign portfolio investors (FPIs) based in China and Hong Kong, sources told ET. 

The UBO is the last natural person owning a fund or entities controlling a fund above certain level. 

Sebi’s direction to custodians is an immediate reaction to People’s Bank of China (PBOC), the country’s monetary authority, buying a little above 1% in HDFC -- India’s leading non-bank mortgage lender and traditionally considered as one of the blue-chip stocks by most institutional investors. 

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