LIC gets RBI nod to raise stake in HDFC Bank to nearly 10% from 4.11%
· economictimes.indiatimes.com
Life Insurance Corporation of India received approval from the Reserve Bank of India. This allows LIC to increase its stake in HDFC Bank to 9.99 percent. Currently, LIC holds 4.11 percent of HDFC Bank's total share capital. The approval grants LIC flexibility to raise its investment in the lender. This development strengthens LIC's financial services sector exposure.
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