News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax | PPE Safety Kit SITRA Approved | PPE Safety Kit
Latest Circulars »
  RBI-Credit flow to Micro, Small and Medium Enterprises Sector
 RBI-Extension of timeline for finalization of audited accounts
  ​Notification of Harmonised Master List of Infrastructure Sub-sectors for the purposes of section 10(23FE) of the Income-tax Act, 1961​
 RBI-Credit flow to Micro, Small and Medium Enterprises Sector
 Extension of timeline for finalization of audited accounts
 Notification under proviso to section 9A(3) of the Income-tax Act, 1961
  Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission
  Master Circular - Disbursement of Government Pension by Agency Banks
 Master Circular on SHG-Bank Linkage Programme
 Exempt allowances for salaried taxpayers in New Tax Regime
 Floating Rate Savings Bonds, 2020 (Taxable)- FRSB 2020 (T) - Operational Guidelines

Decrease in Foreign Investment limit/ceiling under the PIS in Indian Companies from 49% to 47% - M/s Ujjivan Financial Services Limited
April, 26th 2017

The Reserve Bank of India has today notified that M/s Ujjivan Financial Services Limited has passed resolutions at the Board of Directors’ level agreeing for decreasing the limit for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs)/ Foreign Direct Investment (FDI)/Qualified Foreign Investors (QFIs)/ American Depository Receipts (ADR)/Global Depository Receipts (GDR)/ Non-Resident Indians (NRIs)/ Persons of Indian Origin (PIOs) through primary market and stock exchanges upto 47% of the paid up capital of the company under Portfolio Investment Scheme. Hence FIIs/RFPIs/FDI/QFIs/ADR/GDR/NRIs/PIO investment limit under PIS for M/s Ujjivan Financial Services Limited stands decreased from 49 % to 47%.

Reserve Bank Further advise that M/s Ujjivan Financial Services Limited will continue to remain in the Ban list for FIIs/RFPIs/FDI/QFIs/ ADR/GDR/NRIs/PIO as per Press Release: 2015-2016/2918 dated June 15, 2016.

The Reserve Bank has notified this under FEMA 2000.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/2879

Home | About Us | Terms and Conditions | Contact Us | PPE Kit SITRA Approved | PPE Safety Kit
Copyright 2020 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting