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RBI bars Andhra Bank's shares on behalf of FIIs

Written by: Staff
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Mumbai, Apr 25 (UNI) Reserve Bank of India (RBI) has notified that no further purchases of equity shares of Andhra Pradesh should be made on behalf of the foreign institutional investors (FIIs) and non resident indians (NRIs) under the portfolio investment schemes.

This is done since the Bank reached the limit of FIIs investment upto 18 per cent of the its paid up capital, a RBI release said.

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