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Our Bureau

Mumbai , June 1

THE Reserve Bank of India has notified that Foreign Institutional Investors (FIIs) can purchase shares of ICICI Bank Ltd in the secondary market under the portfolio investment scheme.

A release from the Reserve Bank of India said, "The percentage of foreign holdings under the portfolio investment scheme (PIS) in ICICI Bank Ltd has gone below 47 per cent of its paid-up capital."

The FII limit in Indian private banks is fixed at 49 per cent.

FIIs have been net sellers in the equity markets for most of the month of May.

More Stories on : Private Banks | Foreign Institutional Investors

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