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Thursday, May 05, 2005

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FII holding in OBC hits limit

Our Bureau

Mumbai , May 4

THE Reserve Bank of India (RBI) has said that FII investment in Oriental Bank of Commerce (OBC) has reached the upper limit of its paid-up capital.

The apex bank also notified that no further purchases of equity shares of the bank should be made by FIIs through stock exchanges in India without its prior permission. FII holding in OBC has reached the trigger limit of 18 per cent.

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