Reserve Bank of India (RBI) has allowed Foreign Institutional Investors (FIIs) to buy shares in Yes Bank as the foreign shareholding in the company has gone below the prescribed limit. The restrictions placed on the purchase of shares of the bank are withdrawn with immediate effect.
Reserve Bank of India has notified that the aggregate share holdings in Yes Bank by FII/Registered Foreign Portfolios Investors (RFPI)/Non-Resident Indians (NRI)/Persons of Indian Origin (PIO) and through American Depository Receipts (ADR)/Global Depository Receipts (GDR)/Foreign Direct Investment (FDI) have gone below the prescribed threshold caution limit stipulated under the extant FDI policy.
The bank has posted a rise of 30.01% in its net profit at Rs 482.54 crore for the quarter ended September 30, 2014 as compared to Rs 371.13 crore for the same quarter in the previous year. Total income has increased by 13.25% at Rs 3337.97 crore for quarter under review as compared to Rs 2947.39 crore for the quarter ended September 30, 2013.
