Date:15/02/2006 URL: http://www.thehindubusinessline.com/2006/02/15/stories/2006021502560600.htm

Back Canara Bank hits FII limit

Our Bureau

MUMBAI: Foreign institutional investors and non-resident Indians cannot buy shares of Canara Bank, without permission of the Reserve Bank of India.

In a press release issued on Tuesday, the central bank said the foreign investment in Canara Bank has reached 18 per cent of its paid-up capital. Therefore, no further purchases of equity shares should be made on behalf of FIIs and NRIs through stock exchanges in India under Portfolio Investment Scheme.

The FII limit in public sector banks is 20 per cent.