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The Reserve Bank of India has notified the increase in the limits of foreign portfolio investors in YES Bank from 60 per cent to 74 per cent under the portfolio investment scheme, said YES Bank in a statement.
The increase follows the approval granted by the Cabinet Committee of Economic Affairs (CCEA) / Foreign Investment Promotion Board (FIPB on May 25 besides deregulation of FDI policy allowing fungibility across FDI / FPI limits.
YES Bank also received shareholder approval for an enabling resolution to raise $1 billion equity from its shareholders at the AGM held on June 7.
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