Discussion
RBI removed a 7 year old restriction on fresh purchase of which state owned bank’s shares by foreign investors?
Answer: A
Correct answer: PNB
The RBI removed a restriction, in place for some seven years, on fresh purchases of Punjab National Bank shares by foreign investors.
Such bans are imposed automatically when aggregate foreign holding in a company reaches the sectoral ceiling - in a public sector bank, 20 per cent - and are lifted when the holding falls back below the trigger level. The mechanism is a monitoring device rather than a judgement on the bank, and the RBI publishes the list of companies currently caught by it.
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