RBI approves LIC’s proposal to acquire up to 9.99% stake in HDFC bank

Mumbai: The Reserve Bank of India (RBI) has accorded its approval to Life Insurance Corporation of India (LIC) for acquiring an aggregate holding of up to 9.99% of the paid-up share capital or voting rights in HDFC Bank Ltd.

The bank disclosed this in a filing with the exchanges on Wednesday (August 19) night.

As per the latest available beneficial position i.e. as on August 14, 2026, LIC holds 4.11% of the total share capital of the Bank, the filing said.

The approval paves the way for the state-owned insurer to more than double its existing holding in the country’s largest private sector bank.