The Reserve Bank of India has today notified that the percentage of foreign holdings by Foreign Institutional Investors (FIIs) under Portfolio Investment Scheme (PIS) in under noted banks/company have gone down below of their paid up capital shown against their names. The restriction placed on the purchase of shares of the banks/ company on behalf of FIIs may be treated as withdrawn with immediate effect. It will be therefore now be in order to purchase the shares of the following banks/company in the secondary market who have permission to invest under the Portfolio Investment Scheme subject to the existing ceilings and guidelines in this regard.

1) Karur Vysya Bank Limited                                 22 per cent

2) ING Vysya Bank                                               72 per cent

3) Jindal South West Holdings Limited                    22 per cent

Ajit Prasad
Manager

Press Release : 2008-2009/1999