Aug 14, 2013, 09.19 PM IST
The Reserve Bank of India (RBI) on Wednesday barred further purchases of share in Axis Bank through stock exchanges in India on behalf of Global Depository Receipt (GDR)/Asset Development Reserve (ADR)/Foreign Direct Investment (FDI)/Non resident Indian (NRI)/Persons of Indian Origins (PIOs)/Foreign Institutional Investors.
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RBI bars further overseas investments in Axis Bank
The Reserve Bank of India (RBI) on Wednesday barred further purchases of share in Axis Bank through stock exchanges in India on behalf of Global Depository Receipt (GDR)/Asset Development Reserve (ADR)/Foreign Direct Investment (FDI)/Non resident Indian (NRI)/Persons of Indian Origins (PIOs)/Foreign Institutional Investors.
Like this story, share it with millions of investors on M3
RBI bars further overseas investments in Axis Bank
The Reserve Bank of India (RBI) on Wednesday barred further purchases of share in Axis Bank through stock exchanges in India on behalf of Global Depository Receipt (GDR)/Asset Development Reserve (ADR)/Foreign Direct Investment (FDI)/Non resident Indian (NRI)/Persons of Indian Origins (PIOs)/Foreign Institutional Investors.
The Reserve Bank of India (RBI) on Wednesday barred further purchases of share in Axis Bank through stock exchanges in India on behalf of Global Depository Receipt (GDR)/Asset Development Reserve (ADR)/Foreign Direct Investment (FDI)/Non resident Indian (NRI)/Persons of Indian Origins (PIOs)/Foreign Institutional Investors.
"The Reserve Bank of India today notified that foreign share holding by Global Depository Receipt (GDR)………/Foreign Institutional Investors (FIIs) in M/s Axis Bank Ltd. has crossed the overall limit of 49 percent of its paid-up capital. Therefore, no further purchases of share of this bank would be allowed through stock exchanges in India on behalf of GDR/ADR/FDI/NRI/PIO/FIIs," the central bank said in a release on Wednesday.
Also read: Will Yes Bank's lingering court battle end next week?
Since last one year, Axis Bank shares rose nearly 4 percent as against nearly 5 percent fall in the Bank Nifty the broader index for banking stocks.
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