| Responding to a report published in Business Standard on Wednesday (26 per cent cap on FII holding in pvt banks), a finance ministry news release stated that no official communication in this matter has been issued. |
| The BS report was based on discussions with two senior finance ministry officials. The report had stated that Finance Minister Jaswant Singh had cleared the proposal for reducing the cap in FII and NRI holdings in private banks and a notification to give effect to the proposal would be issued soon. |
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