City Union Bank shares climbed today after the Reserve Bank of India (RBI) hiked Foreign Institutional Investors (FII) investment limit to 40% earlier limit of 35% of their paid-up capital through primary and secondary markets in India.
The foreign shareholding by FIIs/RFPIs in City Union Bank has gone below the revised threshold limit stipulated under the extant FDI Policy. Hence, the restrictions placed on the purchase of shares of the above company on July 18, 2014 are withdrawn with immediate effect, RBI said.