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May 12, 2001 		Feedback  
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Reserve Bank lifts FII buying curb in ICICI Bank

The Reserve Bank of India said on Friday that it has lifted the restriction on foreign buying of shares of ICICI Bank, since total foreign ownership had dipped below 22 per cent.

The law requires central bank approval for further purchases by foreign funds once their holdings reach two percentage points less than the ceiling set by individual companies. The ceiling set by ICICI Bank is 24 per cent.

Shares of ICICI Bank ended down 0.7 per cent at Rs 149 at the Bombay Stock Exchange while the benchmark 30-share index closed down 0.24 per cent.

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