Press Releases

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Date : Aug 31, 2007
Investment by FIIs under PIS : The Jammu & Kashmir Bank Limited

The Reserve Bank of India has today notified that under Portfolio Investment Scheme (PIS), Foreign Institutional Investors (FIIs) can now purchase equity shares and convertible debentures of The Jammu & Kashmir Bank Limited, through primary/secondary markets in India. The purchases can be made upto 46.85 per cent of the paid up capital of the company, as it has passed a special resolution to this effect at the Board of Directors' and the Extra-Ordinary General Meetings.

Ajit Prasad
Manager

Press Release : 2007-2008/316


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