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Curbs on FIIs buying BoB stake withdrawn

The Reserve Bank of India has removed restrictions on foreign investors in buying shares in Bank of Baroda. It said the foreign stake holding in the bank has gone below the threshold fixed by it. A notification by RBI said the aggregate share holdings by FIIs/Registered Foreign Portfolios Investors/NRI/Persons of Indian Origin under Portfolio Investment Scheme in the bank have gone below the prescribed threshold caution limit. Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect. As of quarter ended June 2015, FIIs held a 13.55% stake in the bank.

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