Wednesday, July 24News That Matters

Federal Bank – Foreign investment limit raised to 74%


Federal Bank shares up after RBI allowed Foreign investors to purchase stake in the private bank up to 74 %.

RBI said that restrictions placed on the purchase of Federal Bank shares have been withdrawn with immediate effect. The restrictions were removed as government approved increasing foreign investment in Federal Bank from 49 % to 74 % for its paid up equity share capital.

Foreign Investment include investments by Foreign Institutional Investors (FIIs)/Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs)/Foreign Direct Investment (FDI).

The stock of Federal Bank closed at Rs 91.15 on the BSE. It hit a low of Rs 86.75 and a high of Rs 91.75 in the trade today.

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