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The Reserve Bank of India (RBI) has removed restrictions placed on the purchase of shares in AU Small Finance Bank by foreign investors with the total foreign investment coming below the threshold caution limit.

The aggregate limit of total foreign investment that can be received by the company shall remain at 49 percent, the RBI said in a release. The restrictions placed on "the purchase of shares of the above company are withdrawn with immediate effect.

AU Small Finance Bank (SFB) has hit the capital market with an IPO to raise around Rs 1,900 crore. Its share sale of 3,76,95,520 shares was oversubscribed 1.36 times on the second day of the offer on Thursday.

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