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RBI allows FIIs to buy shares in South Indian Bank

25 Feb 2015 Evaluate

Reserve Bank of India (RBI) has allowed Foreign Institutional Investors (FIIs) to buy shares in South Indian Bank as the foreign shareholding in the company has gone below the prescribed limit. Accordingly the restrictions placed on the purchase of shares of the bank are withdrawn with immediate effect.

RBI has notified that the aggregate share holdings in South Indian Bank by Non-Resident Indians (NRI) /Persons of Indian Origin (PIO)/FII/Registered Foreign Portfolios Investors (RFPIs) and through Global Depository Receipts (GDR)/American Depository Receipts (ADR)/Foreign Direct Investment (FDI) in the primary/secondary markets have gone below the prescribed threshold ban limit stipulated under the extant FDI policy.

South Indian Bank has registered a fall of 37.78 % in its net profit after tax at Rs 87.93 crore for third quarter ended December 31, 2014 as compared to Rs 141.31 crore for the same quarter in the previous year. However, total income of the bank has increased 9.92 % at Rs 1467.13 crore for Q3FY15 as compared Rs 1334.74 crore for the corresponding quarter previous year.

South Indian Bank Share Price

38.95 0.17 (0.44%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
HDFC Bank 799.90
ICICI Bank 1347.50
Axis Bank 1359.15
Kotak Mahindra Bank 383.50
Indusind Bank 853.15
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