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LIC gets a green signal to raise stake in HDFC Bank: Can this help boost investor sentiment in the lender's stock?
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Life Insurance Corporation of India Ltd (LIC) could now acquire as much as 9.99% of HDFC Bank, the private lender notified the exchanges on Thursday. The largest insurance business in India, LIC, has received approval from the Reserve Bank of India (RBI) to purchase up to a 9.99% share in the country's largest private sector bank.
In its exchange statement, HDFC Bank stated that the permission was given with regard to the application that LIC submitted to RBI. The approval granted by RBI is subject to the conditions.
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LIC gets RBI approval to acquire 9.99% holding in HDFC Bank economictimes.indiatimes.com /10 months ago
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