Axis Bank slumps on MSCI exclusion, RBI restriction

Reuters Market Eye - Shares in Axis Bank Ltd slump as much as 8.7 percent after MSCI said it would exclude the bank from its standard and large cap indexes.

Axis shares also come under pressure after the Reserve Bank of India said on Wednesday overseas investors will not be allowed to purchase additional shares given the foreign shareholding limit has been breached.

(Reporting by Abhishek Vishnoi)