Question: LIC got RBI’s approval to hold how much percent stake in IndusInd Bank?
(a) 8.99 Percent
(b) 9.99 Percent
(c) 7.99 Percent
(d) 6.99 Percent
Answer: (b)
Related Facts:
- The country’s largest insurer – LIC received approval from the Reserve Bank of India to raise its holding in private lender IndusInd Bank to 9.99 per cent from the existing 4.95 per cent.
- The approval will be valid for 1 year i.e., up to December 8, 2022.
- LIC had also received a similar kind of approval from RBI to increase its stake in Kotak Mahindra Bank to 9.99 per cent.
BY: AMIT GUPTA