Reserve Bank of India has notified that the foreign shareholding through Non-Resident Indians (NRI)/Persons of Indian Origins (PIOs) in Deccan Gold Mines has reached the trigger limit. Accordingly, further purchases of equity shares of this company would be allowed only after obtaining prior approval of the Reserve Bank of India.
Deccan Gold Mines has been actively engaged in the exploration for gold in some of the most promising gold mineralized blocks in India. It has been successful in identifying several smaller potential gold-bearing zones within these blocks, worthy of detailed investigation.
