Axis Bank has received an approval from the Reserve Bank of India (RBI) allowing Foreign Institutional Investors (FIIs) / Registered Foreign Portfolios Investors (RFPIs) to invest up to 62% of the paid up capital of bank under the Portfolio Investment Scheme (PIS). The purchases can be made through primary market and stock exchanges.
The bank has posted a marginal fall of 1.21% in its net profit at Rs 2154.28 crore for the quarter ended March 31, 2016 as compared to Rs 2180.59 crore for the same quarter in the previous year. However, total income of the bank has increased by 9.76% at Rs 13592.97 crore for quarter under review as compared to Rs 12384.39 crore for the quarter ended March 31, 2015.
