The Reserve Bank of India has today notified that the foreign shareholding through Global Depository Receipts (GDRs)/American Depository Receipt (ADR)/ Foreign Direct Investment (FDI)/Non Resident Indian (NRI)/Persons of Indian Origin (PIO)/Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) in M/s ING Vysya Bank Ltd. has reached the trigger limit. Hence, further purchases of equity shares of this bank would be allowed only after obtaining prior approval of the Reserve Bank of India on behalf of FII/RFPI/NRI/PIOs and through FDI/ADR/GDRs under Schedule-I of FEMA.

The foreign investment limits are subject to Regulation of FEMA Notification No.20/2000-RB dated May 03, 2000 (as amended from time to time) and other terms and conditions stipulated by the Reserve Bank.

Ajit Prasad
Assistant General Manager

Press Release: 2014-2015/1777