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Axis Bank gets nod to raise foreign shareholding to 74%

Discussion in 'Indian Stocks' started by capitalstars05, Jul 7, 2016.

  1. capitalstars05

    capitalstars05 New Member

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    Private sector lender Axis Bank has received the go-ahead from the government to hike the foreign shareholding limit to 74% from the existing 62%, paving the way for a foreign investment of about Rs12,973 crore.
    Axis Bank’s proposal to raise the foreign shareholding cap was cleared by the Cabinet Committee on Economic Affairs ( CCEA) headed by the country’s Prime Minister Narendra Modi.
    Currently, private banks in Asia’s third biggest economy have a total foreign limit of 74%, out of which FII limit is 49%.

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