Reserve Bank of India (RBI) has notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest from the existing 60% up to 74% of the paid up capital of Yes Bank under the Portfolio Investment Scheme (PIS). RBI further notified that the total foreign investment from all sources i.e. Foreign Institutional Investors (FII)/ Registered Foreign Portfolios Investors (RFPIs)/ Foreign Direct Investment (FDI)/ Non-Resident Indians (NRI)/ Persons of Indian Origin (PIO)/ American Depository Receipts (ADR)/ Global Depository Receipts (GDR)/ in Yes Bank shall not exceed 74 per cent.
Yes Bank has passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges.
Yes Bank, India’s fifth largest private sector Bank, has a pan India presence across all 29 states and 7 Union Territories of India. The bank has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.
RBI hikes foreign holding limit to 74% in Yes Bank