LIC gets RBI nod to buy 9.99% stake in HDFC Bank

January 26, 2024

HDFC Bank, in a notification to stock exchanges on Thursday, said LIC has received approval from the RBI to acquire up to 9.99% in the bank by January 25, 2025. However, the insurer must ensure that its aggregate holding does not exceed 9.99% of the paid-up share capital or voting rights of the bank at any given time.

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