Industry Info

RBI allows NRIs to buy shares in Tai Indus, Madras Aluminium

The Reserve Bank today allowed non- resident Indians ((NRIs) to purchase shares in Tai Industries and Madras Aluminium Company as the total shareholding by NRIs in them has gone below the threshold limit.

"...the aggregate share holdings by NRIs/Persons of Indian Origin in Tai Industries and Madras Aluminium Co under the Portfolio Investment Scheme (PIS) have gone below the prescribed threshold limit stipulated under the extant FDI Policy," RBI said in a statement.

Hence, the restrictions placed on the purchase of shares of the above company is withdrawn with immediate effect, it added, without providing the relevant shareholding details.

Source: PTI