RBI grants approval to LIC to up stake in IndusInd Bank to nearly 10%
The Hindu
The said approval is valid for a period of one year i.e., up to December 8, 2022, the bank said
Private bank IndusInd Bank on December 10 said the RBI has given approval to Life Insurance Corporation to increase stake in the bank to nearly 10%.
The bank has received an intimation from the RBI on December 9, 2021, that it has granted its approval to Life Insurance Corporation (LIC), shareholder of the bank to acquire up to 9.99% of the total issued and paid up capital of the bank, the bank said in a regulatory filing on stock exchanges.
The state-run insurer holds 4.95% of the total issued and paid-up capital of the bank.
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