HomeBusinessRBI allows LIC to hold 9.99% in IndusInd - Times of India

RBI allows LIC to hold 9.99% in IndusInd – Times of India

MUMBAI: IndusInd Bank on Friday informed the stock exchanges that the Life Insurance Corporation (LIC) of India has been permitted to hold up to 9.99% stake in the private lender. The permission comes on the back of RBI’s new shareholding norms for promoters and non-promoters in private banks. The RBI has allowed non-promoters to hold up to 10% in a private bank.
LIC already holds 4.59% in IndusInd Bank. The permission is valid for one year. Last month, the RBI allowed LIC to hold up to 9.99% stake in Kotak Mahindra Bank, where the insurer holds 4.96%.


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