Curb On Bank Of Baroda Lifted

RBI lifts curbs on Bank of Baroda shares, scrip up

The Reserve Bank of India (RBI) has lifted ban imposed on foreign investors to buy shares in Bank of Baroda as the foreign shareholding under portfolio investment scheme (PIS) in the bank has gone below prescribed limit.

FIIs held 16.95 per cent shares in Bank of Baroda as of quarter ended June 2014, according to the Bombay Stock Exchange data.

RBI said aggregate share holdings by Foreign Institutional Investors/Registered Foreign Portfolios Investors/Non-Resident Indian/Persons of Indian origin (PIOs) under PIS in Bank of Baroda have gone below the prescribed threshold caution limit.

"Hence, the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect. Equity shares of Bank of Baroda can now be purchased through primary market and stock exchanges," the central bank said in a release on Tuesday.

RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis.
To effectively monitor the limit, the central bank has fixed cut-off points two per centage points lower than the actual ceiling.