New Delhi, Sept. 5 -- Public sector insurer Life Insurance Corporation of India (LIC) has received approval from the Reserve Bank of India (RBI) to acquire an aggregate holding of up to 9.99 per cent of the paid-up share capital or voting rights in private lender ICICI Bank, according to a regulatory filing.

As per the exchange filing, ICICI Bank received the RBI's approval letter dated September 4, 2026, at 9:09 pm the same day. The approval allows LIC to acquire the stake within one year from the date of the RBI's letter, after which it will lapse.

Also, the acquisition will be subject to applicable statutory and regulatory requirements. "The approval is subject to certain conditions including compliance with the relevant statutory an...