RBI notification on Karnataka Bank equity share purchase

Mumbai, July 5 (UNI) The Reserve Bank of India today notified that no further purchases of equity shares of Karnataka Bank Ltd should be made on behalf of foreign institutional investors (FIIs)/Non Resident Indians(NRIs) and Persons of Indian Origin ((PIOs) through primary and secondary markets in the country under the Portfolio Investment Scheme (PIS) without obtaining the prior permission of the Reserve Bank.

The Reserve Bank has stated that Karnataka Bank Ltd has reached the limit of 22 per cent of its paid up capital.

UNI KKD MAZ AG1919