"Hence further purchases of equity shares of this company would be allowed only after obtaining prior approval of the Reserve Bank of India," the central bank said in a release.
FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through portfolio investors scheme (PIS).
The RBI monitors ceilings on FII/NRI/PIO investments in Indian companies on a daily basis. It has fixed the cut-off points two percentage points lower than the actual ceiling.
Shares of Bharat Financial closed 1.92 per cent higher at Rs 922.45 on the BSE on Tuesday.
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