New
Delhi: The Indian government and the Reserve Bank
of India (RBI) have decided to allow Indian promoters
of private sector banks to hold a 74-per cent stake, thereby
bringing it at par with the limit agreed for foreign direct
investment (FDI).
"We
have decided that there will be parity in the limit of
holding allowed for foreign as well as Indian promoters,"
says a senior finance ministry official.
An
announcement on this is expected shortly along with the
formal notification of raising the FDI limit to 74 per
cent. The move to allow 74-per cent foreign holding in
private banks was announced in the previous Union Budget.
|