The Reserve Bank of India has today notified that the aggregate share holdings by Global Depository Receipts (GDR)/American Depository Receipts (ADR)/Foreign Direct Investment (FDI)/Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs)/Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs) under Portfolio Investment Scheme in M/s Kotak Mahindra Bank Ltd. has gone below the prescribed limit stipulated under the extant FDI policy. Hence the restrictions placed on the purchase of shares of the above bank are withdrawn with immediate effect.
The Reserve Bank has notified this under FEMA 2000.
Ajit Prasad Assistant Adviser
Press Release: 2015-2016/2126
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