The Reserve Bank of India (RBI) said on Thursday that the foreign shareholding through foreign institutional investors, NRIs, persons of Indian origin or via foreign direct investment in IndusInd Bank has reached the trigger limit.

"Hence, further purchases of equity shares of Induslnd Bank would be allowed only after obtaining prior approval of the Reserve Bank of India.

Shares of the company declined Rs 8.85, or 1.73%, to trade at Rs 503.05. The total volume of shares traded was 17,799 at the BSE (9.52 a.m., Friday).