LIC's RBI nod allows up to 9.99% ICICI Bank stake
Business
LIC just got the go-ahead from the Reserve Bank of India to pick up up to 9.99% stake in ICICI Bank.
The approval, dated September 4, 2026, is good for one year and comes with the usual rulebook: LIC has to stick to all statutory and regulatory requirements.
ICICI Bank received a copy of the RBI's approval letter too.
LIC tech gains 21032cr, portfolio 1.26L/cr
This move follows a big win for LIC in tech stocks; between June and August 4, 2026, their investments in TCS, Infosys, and HCL Technologies grew by ₹21,032 crore.
Despite all the buzz (and worries) around AI shaking up tech companies lately, LIC's portfolio jumped from ₹1.05 lakh crore to ₹1.26 lakh crore in just 35 days.