Govt bars more foreign buying in ICICI shares

RBI bars further purchases of ICICI Bank shares by overseas investors since their holding has reached the 74% limit.

India's central bank has barred further purchases of ICICI Bank shares by overseas investors since their holding has reached the permitted 74 per cent limit.

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"ICICI Bank has reached the limit of 74 per cent of its paid up capital," a press release posted on the central bank's website.

Policy makers set a ceiling on foreign holdings in various sectors and companies set their own limit within the overall ceiling.

For ICICI, the limit is similar to the ceiling set for the sector.