The Reserve Bank of India has today notified that the aggregate share holding in Oriental Bank of Commerce by 'Foreign Institutional Investors (FIIs)/Non Resident Indians (NRIs)/Persons of Indian Origin (PIOs) under Portfolio Investment Scheme (PIS) has gone below the trigger limit of 18 per cent of their paid up capital. Further purchases of equity shares of the bank in the secondary market on behalf of FIIs/NRIs/PIOs would be allowed who have obtained permission to invest under Portfolio Investment Scheme subject to the existing ceilings and guidelines in this regard.

Ajit Prasad
Manager