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RBI allows LIC to up stake in IndusInd Bank

New Delhi, December 10

IndusInd Bank on Friday said the RBI has given approval to LIC to hike stake in the bank to nearly 10%. LIC holds 4.95% of the total issued and paid-up capital of the bank. The RBI approval is subject to the compliance with the direction on ‘Prior Approval for Acquisition of Shares and Voting Private Sector Banks’ and SEBI norms. — PTI

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