Reserve Bank of India has notified that the aggregate share holdings in ING Vysya Bank by Foreign Institutional Investors (FII)/Registered Foreign Portfolios Investors (RFPI)/Non-Resident Indians (NRI)/Persons of Indian Origin (PIO) and through American Depository Receipts (ADR)/Global Depository Receipts (GDRs)/Foreign Direct Investment (FDI) have gone below the prescribed threshold caution limit stipulated under the extant FDI policy.
The restrictions placed on the purchase of shares of the bank are withdrawn with immediate effect. Equity shares of ING Vysya Bank can now be purchased by FIIs through primary market and stock exchanges.
ING Vysya Bank has posted a rise of 2.18% in its net profit at Rs 180.13 crore for the quarter ended September 30, 2014 as compared to Rs 176.28 crore for the same quarter in the previous year. Total income has increased by 10.79% at Rs 1664.03 crore for quarter under review as compared to Rs 1501.96 crore for the quarter ended September 30, 2013.
| Company Name | CMP |
|---|---|
| HDFC Bank | 771.00 |
| ICICI Bank | 1271.75 |
| Axis Bank | 1277.20 |
| Kotak Mahindra Bank | 383.25 |
| Indusind Bank | 924.00 |
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