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RBI allows FIIs to buy shares in South Indian Bank

By Religare

Reserve Bank has allowed foreign investors to buy further shares in South Indian Bank as foreign investment in the bank has gone below the prescribed limit, reported PTI.

The aggregate share holdings in South Indian Bank by Non-Resident Indians, Persons of Indian Origin, Foreign Institutional Investors, Registered Foreign Portfolios Investors and through Global Depository Receipts, American Depository Receipts, Foreign Direct Investment in primary & secondary markets have gone below the prescribed threshold ban limit under FDI policy.


"Hence the restrictions placed on the purchase of shares of the above bank are withdrawn with immediate effect," RBI said in a notification.

As per data available on data on BSE, FIIs held 32.09 per cent shares in South Indian Bank as of quarter ended December 2014.

Story first published: Wednesday, February 25, 2015, 12:50 [IST]
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