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The Reserve Bank of India said that the aggregate share holding by foreign institutional investors (FIIs) under the portfolio investment scheme (PIS) in The South Indian Bank have gone below the prescribed threshold caution limit stipulated under the extant FDI policy.
HDFC Mutual Fund divested 2.06% stake in South Indian Bank for Rs 580.94 million Monday. It sold 27.66 million shares at a price of Rs 21.
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