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Investment by FIIs/NRIs/PIOs under PIS

The Reserve Bank of India has today notified that the percentage of foreign holdings in State Bank of India by Foreign Institutional Investors (FIIs)/ Non Resident Indians (NRIs) / Persons of Indian Origin (PIOs) under Portfolio Investment Scheme (PIS)  in Indian banks have gone below the  trigger limit of 18% of its paid up capital.  It will be, therefore, in order to purchase the shares of the above bank in the secondary market on behalf of FIIs/NRIs/PIOs clients who have obtained permission to invest under the Portfolio Investment Scheme subject to the existing ceilings and guidelines in this regard.

 
 
Ajit Prasad
Manager
Press Release : 2008-2009/1400

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