Economy
RBI Permits LIC to Increase Stake in HDFC Bank to 9.99%
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THE BRIEF
1
The Reserve Bank of India granted approval on August 19, 2026, for the Life Insurance Corporation of India to acquire up to 9.99% of HDFC Bank's paid-up share capital or voting rights.
2
LIC held a 4.11% stake in the private lender as of August 14, 2026, and the new acquisition remains subject to compliance with the Banking Regulation Act of 1949 and SEBI regulations.
3
HDFC Bank reported a standalone net profit of ₹19,059.72 crore for the April-June quarter of FY27, representing a 4.98% year-on-year increase, with gross non-performing assets rising to 1.17%.