LIC gets approval to buy 9.99% in HDFC Bank – Latest News | India Business News – Times of India

by The Technical Blogs


MUMBAI: HDFC Bank said on Thursday that RBI has allowed LIC to increase its stake in the bank up to 9.99%.
This is an enabling provision in line with RBI norms of shareholding of private banks. RBI has separate fit-and-proper guidelines for companies that are allowed up to 5% stake and for entities holding from 5% to 9.99%.


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