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The Economic Times
The Economic Times

LIC gets RBI nod to raise stake in HDFC Bank to nearly 10% from 4.11%

Mumbai: Life Insurance Corporation of India (LIC), India's largest insurance company, has received approval from the Reserve Bank of India (RBI) to increase its stake in HDFC Bank to up to 9.99 per cent.

According to an HDFC Bank regulatory filing dated August 19, the RBI has approved LIC's application to acquire up to 9.99 per cent of the bank's paid-up share capital or voting rights.

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