LIC gets RBI approval to buy up to 9.99% of ICICI Bank
Life Insurance Corporation of India received approval from the Reserve Bank of India to acquire up to 9.99% in ICICI Bank, clearing the insurer to raise its stake in the private lender.
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 percent in private lender ICICI Bank, giving the insurer regulatory clearance to raise its stake in the bank, according to a regul…