Foreign investment in Induslnd Bank reaches trigger limit

Reserve Bank of India has notified that the foreign share holding through Foreign Institutional Investors (FIIs)/Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs)/Foreign Direct Investment (FDI)/American Depository Receipt (ADR)/Global Depository Receipts (GDRs) in IndusInd Bank has reached the trigger limit. Accordingly, further purchases of equity shares of the bank would be allowed only after obtaining the Reserve Bank's prior approval. Under the portfolio investment scheme, FIIs are allowed to buy up to 49% of the paid-up capital in the bank through primary or secondary markets subject to aggregate foreign investment limit not exceeding sectoral cap of 74%.