The foreign shareholding by Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) in Axis Bank Ltd has gone below the threshold limit, RBI said in a notification.
"Hence the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect," RBI said.
For the quarter ended March 2015, FIIs held 46.64 per cent in Axis Bank, according to data available on BSE.
FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through PIS.
Axis Bank shares closed at Rs 550.65 per share on the BSE today, down 0.63 per cent from the previous close.
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