RBI lifts ban on FIIs buying Yes Bank shares
The Reserve Bank of India (RBI) lifted the ban on FIIs buying into the city based Yes Bank. The aggregate shareholdings in the bank by FIIs under portfolio investment scheme had gone below the 49 percent mark.
July 03, 2013 / 23:07 IST
The RBI on Tuesday 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 percent). Also read: ANALYSIS: How to study Yes Bank board meet over family feud"Hence, the restrictions placed on the purchase of shares of the above company is withdrawn with immediate effect," the Reserve Bank today said in a statement.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 percent 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. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
