Reserve Bank of India (RBI) has lifted restrictions on buying of shares of Bank of Baroda by Foreign Institutional Investors (FIIs). RBI has notified that the aggregate share holdings by FIIs/Registered Foreign Portfolios Investors (RFPIs)/Non Resident Indian (NRI)/Persons of Indian Origin (PIO) under Portfolio Investment Scheme in Bank of Baroda have gone below the prescribed threshold caution limit under the extant FDI policy. Accordingly, the restrictions placed on the purchase of shares of the bank are withdrawn with immediate effect.
For the year ended March 31, 2015, the bank has posted a fall of 25.16% in its net profit at Rs 3398.43 crore as compared to Rs 4541.08 crore for the same period in the previous year. However, total income of the bank has increased by 9.13% at Rs 47365.55 crore for year under review as compared to Rs 43402.45 crore for the period ended March 31, 2014.
