Date:16/09/2004 URL: http://www.thehindubusinessline.com/2004/09/16/stories/2004091602030600.htm

Back J&K Bank gets RBI nod to hike FII limit to 33 pc

Our Bureau

New Delhi , Sept. 15

THE Jammu & Kashmir Bank today received the Reserve Bank of India's approval to increase FII investment limit to 33 per cent of the paid-up capital.

Currently, FIIs hold 21.84 per cent of the bank's equity.

In view of the interest evinced by FIIs in picking up the stake, the bank has enhanced the limit of investment, a release said.

The board and shareholders, in their meetings held on June 12 and July 24 respectively, passed a resolution to this effect.