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RBI allows foreign investors to up stake in Bharat Financial

Press Trust of India  |  Mumbai 

The Reserve has allowed foreign investors to raise their stake in micro lender Financial Inclusion as the applicable limit has gone below the threshold limit.

The aggregate foreign shareholding by foreign portfolios investors (FPIs) under Portfolio Investment Scheme in Financial Inclusion Limited has gone below the prescribed threshold caution limit, Reserve (RBI) said in a notification.

"Hence, the restrictions placed on the purchase of of the above company are withdrawn with immediate effect," the RBI said.

Foreign portfolio investors held 68.83 per cent in the company as on September 30, 2017, the data showed.

Promoter shareholding in the company stands at 1.65 per cent.

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

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

Financial Inclusion stock traded 0.20 per cent down at Rs 992.75 on

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, December 06 2017. 13:35 IST