Economy
RBI Approves LIC to Acquire Up to 9.99% Stake in ICICI Bank
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THE BRIEF
1
The Reserve Bank of India granted approval on September 5, 2026, for the Life Insurance Corporation of India to acquire a stake of up to 9.99% in ICICI Bank.
2
This strategic investment allows LIC to increase its holding in the private lender, subject to regulatory compliance and market conditions over the next year.
3
The move is seen as a significant capital deployment by the insurer, aimed at strengthening its portfolio in the banking sector amid current market volatility.