Axis Bank share price rallied almost 2% to hit its 11-month high after RBI - Reserve Bank of India gave a green signal to foreign investors to up their stakes in Axis Bank up to 74 percent. In fact, RBI said in a notification that FIIs - Foreign Institutional Investors/ RFPIs - Registered Foreign Portfolios Investors could now invest from existing 62 percent up to 74 percent of the paid-up capital of the Bank under the PIS - Portfolio Investment Scheme. The hike in foreign investment limit in Axis Bank follows permission granted by the Indian gov