Foreign investors need prior RBI nod to buy more shares in BoB

Tags: News
Reserve Bank today said foreign investors would be required to obtain its prior approval to purchase further shares in Bank of Baroda (BoB), as the prescribed limit has reached trigger limit.

RBI monitors ceilings on foreign institutional investors (FII), Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) investments in Indian companies on a daily basis and to effectively monitor the limit, it has fixed cut-off points two percentage points lower than the actual ceiling.

The foreign share holding through FIIs/ Registered Foreign Portfolios Investors (RFPIs)/NRIs/PIOs in Bank of Baroda has reached the trigger limit.

"Hence, further purchases of equity shares of this bank would be allowed only after obtaining prior approval of the Reserve Bank of India," RBI said in a notification.

EDITORIAL OF THE DAY

  • For a successful digital payments ecosystem, clarity is the way forward

    In the last few weeks, demonetisation has moved out of the headlines, perhaps because there are no long queues at ATMs.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Disequilibrium : THE UGLY AND INCONVENIENT TRUTH

Same song, different verse. The time for polemics over how ...

M S Swaminathan

Double the money

Both the National Policy for Farmers’ and the reports of ...

Rajgopal Nidamboor

You are what your emotions are

The explanation of unconscious facial expressions is representative of questioning ...