With immediate effect, Reserve Bank of India (RBI) removed the restrictions placed on the purchase of shares of IDFC by foreign investors.
The central bank removed the restriction because foreign investors’ shareholding in IDFC fell below the prescribed limit.
In August, the company reduced the limit that foreign investors can own in the infrastructure lender to 54 per cent from 74 per cent without giving a reason.
With IDFC applying for a banking licence, FII investment limit was reduced earlier to comply with RBI’s bank licence guidelines.
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