RBI-Monitoring of Foreign Investment under the PIS in Indian Companies - Removal from the Ban List- GDR/ADR/FDI/NRI/PIO/FII/RFPIs: The South Indian Bank Ltd
February, 27th 2015
The Reserve Bank of India has today notified that the aggregate share holdings in The South Indian Bank Ltd. by Non-Resident Indians (NRI) /Persons of Indian Origin (PIO)/Foreign Institutional Investors (FII)/Registered Foreign Portfolios Investors (RFPIs) and through Global Depository Receipts (GDR)/American Depository Receipts (ADR)/Foreign Direct Investment (FDI) in the primary/secondary markets have gone below the prescribed threshold ban limit stipulated under the extant FDI policy. Hence the restrictions placed on the purchase of shares of the above bank are withdrawn with immediate effect.
The foreign investment limits are subject to Regulation of FEMA Notification No.20/2000-RB dated May 03, 2000 (as amended from time to time) and other terms and conditions stipulated by the Reserve Bank.