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RBI Approves LIC to Acquire 9.99% Stake in ICICI Bank
Published on 29 Sep 2026
- Regulatory Clearance: ICICI Bank announced RBI approval for LIC to increase its shareholding up to 9.99%.
- Current Holdings: LIC previously held a 4.35% stake (31.18 crore shares) as of June 30, 2026.
- Compliance Validity: Approval received on September 4, 2026, with a one-year validity period under Banking Regulation Act norms.
- Broader Context: Follows a similar RBI approval granted on August 14, 2026, for LIC to acquire 9.99% in HDFC Bank.
- Market Position: Unites India's largest state life insurer with one of its leading private commercial banks.
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