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Government has provided its approval to Axis Bank for raising foreign shareholding to 74 percent, entailing investment of around Rs 13,000 crore.
The proposal of Axis Bank for increasing foreign shareholding limit from existing 62 percent to 74 percent has been cleared by the Cabinet Committee on Economic Affairs (CCEA) headed by the Prime Minister Narendra Modi.
Currently, the private banks have a total foreign limit of 74 percent, of which FII limit is 49 percent.
