According to the exchange filing, ICICI Bank received the RBI’s approval letter dated September 4, 2026. (File Photo)
\n\n.Life Insurance Corporation of India (LIC) has secured approval from the Reserve Bank of India (RBI) to acquire up to 9.99 per cent of the paid-up share capital or voting rights in ICICI Bank, according to a regulatory filing by the private sector lender. The approval gives the state-owned insurer one year from the date of the RBI’s letter to complete the proposed acquisition. The permission will cease to remain valid if LIC does not acquire the stake within the prescribed period.
\n\nICICI Bank said it received the RBI communication on September 4, 2026, at 9:09 pm. The proposed stake purchase will also have to comply with all applicable statutory and regulatory requirements.
\n\nAccording to ICICI Bank’s exchange filing, the RBI has permitted LIC to build an “aggregate holding” of as much as 9.99 per cent in the bank.
\n\n“On September 4, 2026 at 9:09 pm, ICICI Bank Limited (the Bank) has received a copy of Reserve Bank of India (RBI ) letter dated the same day addressed to Life Insurance Corporation of India (the applicant) that it has accorded its approval…
Original source: https://www.timesnownews.com/business-economy
