The proposals of Axis Bank and HCL Technologies to raise foreign shareholding limit will be taken up for consideration by the Foreign Investment Promotion Board (FIPB) next week. Axis Bank had approached the FIPB last month soon after the Reserve Bank of India (RBI) said the limit of investments through Global Depository Receipts (GDRs), American Depository Receipts (ADRs), FDI, NRI, FIIs in the bank had breached the overall limit of 49 per cent of its paid-up capital..............
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