Investment by FIIs under PIS

Mumbai, Apr 3 (UNI) The Reserve Bank of India (RBI) today notified that no further purchases of equity shares of Industrial Finance Corporation of India Ltd (IFCI Ltd) should be made on behalf of Foreign Institutional Investors (FIIs) under Portfolio investment Scheme (PIS) through primary and secondary markets in India without obtaining the prior permission of the RBI.

The RBI has stated that IFCI Ltd has reached the limit of 22 per cent of its paid up capital, the RBI release said.

UNI