RBI ups FIIs investment limit to 74% in Axis; stock gains 2%

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26 Aug, 2025 12:21

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Moneycontrol bureauShares of Axis Bank rose nearly 2 percent intraday Monday on the back of increase in foreign investment limit by Reserve Bank of India (RBI).The Reserve Bank of India has allowed Foreign Institutional Investor (FII) and Registered Foreign Portfolio Investment (RFPI) to invest in Axis Bank up to 74 percent from 62 percent earlier."Axis Bank has passed resolutions at its board of directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges," as per RBI press release.Meanwhile, the company has reduced its MCLRs with effect from July 18, 2016.It has reduced one month and three months MCLR by 10 basis points, while overnight, six months, one year, two years and three years MCLR by 5 basis points.At 12:16 hrs Axis Bank was quoting at Rs 573.30, up Rs 8.55, or 1.51 percent on the BSE.Posted by Rakesh Patil