(Continuation news of BIFC): in FID circular No-6, dated 06 November 2003 and FID Circular-2, Dated: 10 November 2004 as on 2,3,4,5,7,9,10,11,12,14 November 2016. 7. Violation of Financial Institution Act-1993. As per Financial Institution Act-1993, Section-16; No Financial Institution shall expend or use more than 25% of its paid-up capital and reserves for the acquisition or holding of any kind of shares of financial, commercial, agricultural or industrial institutions or of any similar (cont. 7)