The Reserve Bank of India has notified that consequent upon approval from Government of India for increase in foreign investment from 49 percent to 62 percent of the paid up equity share capital of M/s. Axis Bank Limited, the aggregate share holdings through Foreign Institutional Investor (FII)/ Non Resident Indian (NRI)/Person of Indian Origin (PIO)/Foreign Direct Investment (FDI)/American Depository Receipt (ADR)/Global Depository Receipt (GDR) in M/s. Axis Bank Ltd have gone below the prescribed threshold caution limit stipulated under the extant FDI Policy. Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect.

Ajit Prasad

Assistant General Manager

Foreign investment monitoring: purchase restrictions removed after aggregate non resident holdings fell below the prescribed caution threshold. Where aggregate foreign holdings through FII, NRI, PIO, FDI, ADR and GDR fall below the prescribed caution limit under the FDI policy, the regulatory trigger for purchase restrictions is removed; following government approval to raise the permitted foreign investment ceiling, aggregate non resident shareholding in the company fell below that threshold, and the purchase restrictions were withdrawn with immediate effect.