FIIs hit ceiling in 10 state-run banks

Foreign institutional investors’ investments in three more public sector banks - Andhra Bank, Indian Overseas Bank and Canara Bank - are nearing the 20 per cent ceiling specified by the Reserve Bank of India (RBI). The FII holding in these three banks went over 19 per cent in the June 2007 quarter, taking the total number of banks, where FIIs are barred from making fresh purchases, to 10. The list comprises State Bank of India, Punjab National Bank, Union Bank, Bank of Baroda, Allahabad Bank, Oriental Bank of Commerce and Vijaya Bank. Among private sector banks, FIIs has hit the ceiling in ICICI Bank and Centurion Bank of Punjab.