RBI has said that the aggregate foreign share holding in the Punjab National Bank has reached 18% of its paid up capital. This is less than 2% of the sectoral cap of 20% permitted in Public Sector Banks. So, RBI has said that any further purchase of equity shares on behalf of Foreign Institutional Investors / Non Resident Indians and for Persons of Indian Origin who have permission under the Portfolio Investment Scheme will now be allowed only after obtaining prior approval of Reserve Bank of
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