Mumbai: Bank Indusind on Friday told the stock exchange that the life insurance corporation (LIC) from India has been allowed to accommodate up to 9.99% of shares in private lenders.
The permit appears behind the Norma of the New RBI share ownership for promoters and non-promoters at a private bank.
The RBI has enabled non-promoters to accommodate up to 10% in private banks.
LIC has been valid 4.59% at the Indusind Bank.
This permit is valid for one year.
Last month, the RBI allows LIC to accommodate up to 9.99% of the shares in the Mahindra Bank box, where the insurance company applies 4.96%.
RBI allows LAC to accommodate 9.99% in Indusind
