India approves raising foreign equity limit in Axis Bank to 62 percent

Reuters
People use a staircase next to a corporate branch office of Axis Bank in New Delhi
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People use a staircase next to a corporate branch office of Axis Bank in New Delhi July 18, 2013. REUTERS/Anindito Mukherjee/Files

NEW DELHI (Reuters) - India's foreign investment regulator has approved raising foreign equity limit in Axis Bank Ltd(NSI:AXISBANK.NS - News) to 62 percent from 49 percent, a finance ministry source said on Thursday.

(Reporting by Anurag Kotoky; editing by Malini Menon)

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