Mumbai: indusind bank informed the stock exchanges on Friday that life insurance corporation ,LICIndia’s private lender has been allowed to hold a 9.99% stake. This permission has been given on the basis of RBI’s new shareholding norms for promoters and non-promoters in private banks. reserve Bank of India Non-promoters have been allowed to hold up to 10% in a private bank.
LIC already holds 4.59% stake in IndusInd Bank. Permission is valid for one year. Last month, RBI allowed LIC to hold 9.99% stake in Kotak Mahindra Bank, where the insurer holds a 4.96% stake.
LIC already holds 4.59% stake in IndusInd Bank. Permission is valid for one year. Last month, RBI allowed LIC to hold 9.99% stake in Kotak Mahindra Bank, where the insurer holds a 4.96% stake.
,