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India Economy: 
Inv. by FIIS under PIS : Development Credit Bank
Author: 123jump.com Staff
123jump.com
Last Update: 9:30 AM EST December 29 2006


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The Reserve Bank of India has notified on December 29, 2006 that Foreign Institutional Investors (FIIs) can now purchase under Portfolio Investment Scheme (PIS) equity shares of Development Credit Bank Ltd., through primary markets and stock exchanges in India upto 49 per cent of its paid up capital,

 
Date : 29 Dec 2006

Investment by FIIS under PIS : Development Credit Bank Ltd.

The Reserve Bank of India has notified on December 29, 2006 that Foreign Institutional Investors (FIIs) can now purchase under Portfolio Investment Scheme (PIS) equity shares of Development Credit Bank Ltd., through primary markets and stock exchanges in India upto 49 per cent of its paid up capital, as the bank has passed a resolution to this effect at the Board of Directors'' and a special resolution in its Extra Ordinary General Body Meetings.

P.V.Sadanandan
Manager

Press Release : 2006-2007/888
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