RBI grants LIC approval to hike its stake in IndusInd Bank

From current 4.95% to upto 9.99%

IndusInd Bank announced that on 09 December 2021 the Reserve Bank of India has granted approval to Life Insurance Corporation of India, shareholder of the Bank, who holds 4.95% stake of the total issued and paid up capital of the Bank, to acquire up to 9.99% of the total issued and paid up capital of the Bank. This approval is valid for a period of one year i.e. up to 08 December 2022.

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