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Foreign Investments Restrictions No More on IDBI: RBI
June 28, 2017
As the shareholding by foreign investors in IDFC fell below the recommended level, Reserve Bank of India decided to remove the restrictions on foreign investment in IDFC Ltd.
In a recent notification, RBI said that the foreign shareholding by foreign portfolio investors and foreign institutional investors in IDFC bank has dropped below the standard FPI and FII level. As a result, the central bank has withdrawn the restrictions put on the purchase of the company shares by foreign investors.
Recorded June 19, 2017, the total stake in IDFC bank held by foreign investors stood at 32.18%.
