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Foreign investors can buy South Indian Bank shares now

The Reserve Bank of India has allowed foreign investors to buy shares in South Indian Bank as the foreign shareholding in the bank has gone below the prescribed limit. The RBI said in a statement that the foreign share holding through Foreign Institutional Investors/Non-Resident Indians)/Persons of Indian Origin/Foreign Direct Investment/American Depository Receipt/Global Depository Receipts in the bank have gone below the prescribed threshold caution limit, stipulated under the extant FDI policy and hence the restrictions placed on the purchase of shares of the bank are withdrawn with immediate effect and its equity shares can now be purchased through primary market and stock exchanges. FIIs, NRIs and PIOs are allowed to invest in the primary and secondary capital markets in India through the portfolio investment scheme (PIS). Under the scheme, FIIs/NRIs can acquire shares/debentures of Indian companies through the stock exchanges.

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