FIIs can purchase UTI equity shares: RBI

Mumbai, Aug 24 (UNI) The Reserve bank of India has notified on August 24, 2006, that Foreign Instituional investors (FIIs) can now purchase under portfolio Investment Scheme (PIS) equity shares of UTI Bank Ltd, through primary markets and stock exchanges in India upto 49 per cent of its paid up capital.

The bank has passed a resolution at its board of Directors' and a special resolution in its General Body meetings to this effect, a press release issued here today said.

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