RBI allows LIC to buy up to 9.99% stake in ICICI Bank
The Life Insurance Corporation of India (LIC), a public sector insurer, has been granted permission by the RBI to purchase a stake of up to 9.99% in ICICI Bank. This authorization applies to the bank's voting rights or paid-up share capital and is effective for a period of one year, starting from the RBI's communication dated September 4, 2026. The planned investment is still required to comply with all relevant regulatory and statutory mandates.
by shortkt.com✓