LIC gets RBI approval to acquire up to 9.99% stake in ICICI Bank
The approval comes amid LIC’s recent expansion of its potential holdings in major private lenders, including HDFC Bank.
The Reserve Bank of India (RBI) has granted approval to the Public Sector Undertaking, Life Insurance Corporation of India (LIC), to acquire a maximum of 9.99% of ICICI Bank's paid-up share capital or voting rights. This decision was communicated to ICICI Bank on September 4, 2026, at 9:09 PM. The approval grants LIC a one-year window to complete the acquisition, after which it will expire. The acquisition will be contingent upon conformity with the requisite statutory and regulatory guidelines.
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- RBI Clears LIC To Acquire Up To 9.99% Stake In ICICI Bank, Sets One-Year Window freepressjournal.in
