RBI lifts ban on FIIs buying Yes Bank shares

RBI lifts ban on FIIs buying Yes Bank shares
YES Bank: Quotes, News
BSE 1308.75BSE Quote8.3 (0.63%)
NSE 1310.80NSE Quote6.6 (0.50%)
The RBI has lifted the ban on FIIs buying into the city-based Yes Bank following a fall in shareholding by them in the private lender.

"The aggregate shareholdings in Yes Bank by foreign institutional investors under the portfolio investment scheme have gone below the prescribed threshold limit stipulated under the extant FDI policy (49 per cent). "Hence, the restrictions placed on the purchase of shares of the above company is withdrawn with immediate effect," the Reserve Bank today said in a statement. On March 4 this year, the regulator had banned FIIs from buying into Yes Bank shares as their limit of 49 per cent of its paid-up capital had been breached.

FIIs, NRIs and persons of Indian origin are allowed to invest in the primary and secondary capital markets in the country under the portfolio investment scheme.


Read more about: rbi, yes bank
Story first published: Wednesday, July 3, 2013, 0:15 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?