RBI restricts purchase of shares of South Indian Bank

Mumbai, July 17 (UNI) The Reserve Bank of India (RBI) today notified that no further purchases of equity shares of The South Indian Bank should be made on behalf of Foreign Institutional Investors (FIIs) through primary and secondary markets in India under Portfolio Investment Scheme (PIS) without obtaining the prior permission of the RBI.

RBI has stated that the The South Indian Bank has reached the limit of 22 per cent of its paid up capital.

UNI AR MJ AG1806