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FIIs allowed to invest in South Indian Bank

The Reserve Bank of India has allowed foreign investors to buy further shares in South Indian Bank. The decision is after the holding by FIIs in the bank has gone below the permissibel limit, the central bank said, adding the restrictions placed on the purchase of shares of the bank are withdrawn with immediate effect. The central bank said in a statement that the equity shares of the bank can now be purchased through primary market and stock exchanges. FIIs, held 41.69% shares in the bank as of quarter ended 31 March 2014. FIIs, NRIs and PIOs are allowed to invest in the primary and secondary capital markets in India through the portfolio investment scheme (PIS).

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