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The Cabinet Committee on Economic Affairs has cleared the proposal of Axis Bank to increase the foreign shareholding limit to 74 per cent from 62 per cent now. It would lead to foreign investment of about ₹13,000 crore. At present, private banks have a foreign shareholding limit of 74 per cent, of which FII limit is 49 per cent. Shares of Axis Bank may react positively to the clearance, as the issue has been pending for quite some time.
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