MUMBAI: HDFC Bank said on Thursday that RBI has allowed LIC to increase its stake in the bank up to 9.99%.
This is an enabling provision in line with RBI norms of shareholding of private banks. RBI has separate fit-and-proper guidelines for companies that are allowed up to 5% stake and for entities holding from 5% to 9.99%.
This is an enabling provision in line with RBI norms of shareholding of private banks. RBI has separate fit-and-proper guidelines for companies that are allowed up to 5% stake and for entities holding from 5% to 9.99%.
