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Axis Bank’s FII Limit Hiked to 62%

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December 26: The CCEA today approved Axis Bank’s proposal to increase the foreign investment cap from 49% to 62%. This will make the lender a foreign-owned bank and generate inflows of Rs.7,250 crore. The government is also considering selling the 23.58% SUTTI stake in Axis Bank to raise Rs.14,000 crore. Bloomberg TV India details the government’s plans, expected FDI income and the way ahead for Axis Bank.