Reserve Bank of India (RBI) has notified that the aggregate foreign share holdings by Foreign Portfolios Investors (FPIs) under Portfolio Investment Scheme in Bharat Financial Inclusion have gone below the prescribed threshold caution limit stipulated under the extant Foreign Direct Investment (FDI) Policy and FEMA regulations. Accordingly, the restrictions placed on the purchase of shares of the company are withdrawn with immediate effect.
Bharat Financial Inclusion (formerly known as SKS Microfinance) is a non-banking finance company (NBFC), regulated by the Reserve Bank of India. The company's mission is to provide financial services to the poor under the premise that providing financial services to poor borrowers helps to alleviate poverty.
