Reserve Bank of India (RBI) has lifted ban imposed on foreign institutional investors (FIIs) to buy shares in state-owned lender Bank of Baroda (BoB), as the foreign shareholding under portfolio investment scheme (PIS) in the bank has gone below the prescribed limit.
Equity shares of Bank of Baroda can now be purchased through primary market and stock exchanges. FIIs held 16.95% stake in the bank as of the quarter ended June 2014.