The Reserve Bank of India has today notified that the aggregate  foreign shareholding in the Bank of Baroda has reached 18 per cent of its paid up capital i.e., less than 2 per cent of the sectoral cap of 20 per cent for the public sector banks (PSBs). Therefore, any further purchases of equity shares on behalf of Foreign Institutional Investors (FIIs) / Non Resident Indians (NRIs) / Persons of Indian Origin (PIOs) who have permission under the Portfolio Investment Scheme (PIS) will now be allowed after obtaining prior approval of the Reserve Bank of India.

On receipt of such proposals, clearance will be given by the Reserve Bank of India on first-come-first-served basis after taking into account the purchases proposed to be made by all designated bank branches, till the 20 per cent limit is reached.

Ajit Prasad
     Manager

Press Release: 2008-2009/2024