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RBI lifts restriction on foreign investment in IDFC

After the shareholding of overseas investors fell below the prescribed level

Press Trust of India  |  Mumbai 

RBI lifts restriction on foreign investment in IDFC

The Reserve Bank of India (RBI) has removed the on foreign in Ltd after the shareholding of overseas investors fell below the prescribed level.

"The foreign shareholding by foreign institutional investors/foreign portfolio investors in have gone below the prescribed FII/FPI limit. Hence, the restrictions placed on the purchase of shares by FII/FPI of the above company, are withdrawn with immediate effect," the said in the notification.

Foreign portfolio investors held 32.18% stake in Ltd as on June 19, 2017.

FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through PIS.

The monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis and has fixed the cut-off points two percentage points lower than the actual ceiling.

First Published: Wed, June 21 2017. 19:55 IST