RBI approves LIC to acquire up to 9.99% stake in ICICI Bank
- The Reserve Bank of India approved Life Insurance Corporation of India to acquire up to 9.99% of ICICI Bank's paid-up share capital or voting rights within one year of September 4, 2026.
- ICICI Bank received the RBI's approval letter on September 4, 2026, at 9:09 pm, and the acquisition is subject to applicable statutory and regulatory requirements.
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LIC Receives RBI Approval to Acquire Up to 9.99 Pc Stake in ICICI Bank
Get latest articles and stories on Business at LatestLY. Public sector insurer Life Insurance Corporation of India (LIC) has received approval from the Reserve Bank of India (RBI) to acquire an aggregate holding of up to 9.99 per cent of the paid-up share capital or voting rights in private lender ICICI Bank, according to a regulatory filing. Business News | LIC Receives RBI Approval to Acquire Up to 9.99 Pc Stake in ICICI Bank.
The Economic Times
Times of IndiaRBI approves LIC to acquire up to 9.99% stake in ICICI Bank
The Reserve Bank of India has approved Life Insurance Corporation's stake acquisition. LIC can now acquire up to 9.99% of ICICI Bank's share capital. This approval is valid for one year from the RBI's letter date. The central bank's approval will stand cancelled if not utilized within this period. This acquisition is subject to compliance with all applicable regulatory provisions.
The country's largest insurance company LIC is now going to increase its stake in the giant private bank ICICI Bank. The Reserve Bank of India (RBI) has given official permission to LIC to buy up to 9.99% of the paid-up share capital or voting rights. LIC has been given 1 year to complete the deal.
New Delhi (Uttam Hindu News): The Reserve Bank of India (RBI) has approved the state-owned insurance company Life Insurance Corporation of India (LIC) to raise its stake in ICICI Bank to 9.99 per cent in the paid-up share capital or voting rights… The post LIC gets RBI nod to raise stake in ICICI Bank to 9.99 per cent appeared first on uttamhindu.com.
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