New Delhi, Aug. 20 -- Private lender HDFC Bank, said on Wednesday, August 19, that the Reserve Bank of India (RBI) has granted approval to Life Insurance Corporation of India (LIC) to acquire an aggregate stake of up to 9.99% in the bank's paid-up share capital or voting rights.

LIC held a 4.11% stake in HDFC Bank's total share capital as of the latest available beneficial position on August 14, 2026. The RBI gave its approval through a letter dated August 19 following an application submitted by LIC.

"We would like to inform you that the Reserve Bank of India ("RBI") vide its letter dated August 19, 2026, has accorded its approval to Life Insurance Corporation of India ("LIC"), for acquiring aggregate holding up to 9.99% of the paid-up...