Investment by FIIs under PIS

The Reserve Bank of India has today notified that the aggregate share holdings in following Banks by Foreign Institutional Investors (FIIs) under the Portfolio Investment Scheme (PIS) have gone below the prescribed trigger limit. Hence, these banks are being removed from the caution list for FII’s investment and the restrictions placed on the purchase of shares of these banks are withdrawn with immediate effect.

1. Union Bank of India
2. Karur Vysya Bank

Therefore, it will be in order to purchase the shares of above banks in the secondary market on behalf of FIIs who have obtained permission to invest under the Portfolio Investment Scheme subject to the existing ceilings and guidelines in this regard.

Ajit Prasad
Assistant General Manager

Press Release : 2011-2012/450