LIC gets RBI nod to acquire up to 9.99% stake in ICICI Bank

Public sector insurer Life Insurance Corporation of India (LIC) has received RBI approval to acquire up to 9.99% in private lender ICICI Bank. The approval covers the bank's paid-up share capital or voting rights and remains valid for one year from the RBI's September 4, 2026 letter. The proposed acquisition remains subject to applicable statutory and regulatory requirements.