Monitoring of Foreign Investment under PIS in Indian Companies - Incorporation in Ban List : M/s Axis Bank Ltd

The Reserve Bank of India has today notified that the foreign share holding through Foreign Institutional Investors (FIIs)/Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs)/Foreign Direct Investment (FDI)/American Depository Receipt (ADR)/Global Depository Receipts (GDRs) in M/s Axis Bank Ltd. has reached the trigger limit. Accordingly, further purchases of equity shares of M/s Axis Bank Ltd. would be allowed only after obtaining the Reserve Bank's prior approval.

Sabeeta Badkar

Assistant Manager