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Jan 22, 2014

Proposal of Federal Bank for increase in foreign equity Approved

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The Cabinet Committee on Economic Affairs has approved the proposal of Federal Bank Limited for increase in foreign investment to 74 percent subject to the aggregate Foreign Institutional Investors’ (FIIs) shareholding not exceeding 49 percent of the paid up equity share capital of the bank.
 
The approval would result in foreign investment of approximately Rs.1400 crore in the country.