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Our Bureau

New Delhi , Sept. 15

THE Jammu & Kashmir Bank today received the Reserve Bank of India's approval to increase FII investment limit to 33 per cent of the paid-up capital.

Currently, FIIs hold 21.84 per cent of the bank's equity.

In view of the interest evinced by FIIs in picking up the stake, the bank has enhanced the limit of investment, a release said.

The board and shareholders, in their meetings held on June 12 and July 24 respectively, passed a resolution to this effect.

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