RBI allows FIIs to buy upto 49 % paid-up capital in Bajaj Corp
- The Apex Financial Institution of India, the Reserve Bank
has allowed ING Vysya Bank & Kotak Mahindra Bank going to merge on April 1,
2015 to buy up to 49 % of the paid-up capital of Bajaj Corp Ltd.
- As of quarter ended September 2014, FIIs held 15.21 % in the company, according to BSE data.
- FIIs, NRIs and PIOs (Persons of Indian Origins) can invest
in primary and secondary capital markets in India through PIS.
- The RBI monitors the ceilings on FII/NRI/PIO investments in
Indian companies on a daily basis.
- It has fixed the cut-off points two percentage
points lower than the actual ceiling.