LIC will get approval to purchase 9.99% in HDFC Financial institution – Newest Information | India Enterprise Information

MUMBAI: HDFC Financial institution mentioned on Thursday that RBI has allowed LIC to extend its stake within the financial institution as much as 9.99%.
That is an enabling provision according to RBI norms of shareholding of personal banks. RBI has separate fit-and-proper tips for firms which are allowed as much as 5% stake and for entities holding from 5% to 9.99%.