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LIC wins RBI approval to lift HDFC Bank stake to nearly 10%
The RBI approval, dated August 19, comes after LIC held 4.11% as of August 14, 2026, and is subject to banking, FX and SEBI-related conditions.
HDFC Bank said the Reserve Bank of India has granted approval for Life Insurance Corporation of India to increase its holding in the private lender. The approval allows LIC to acquire an aggregate stake of up to 9.99% in HDFC Bank’s paid-up share capital or voting rights.
The bank noted that LIC held 4.11% of HDFC Bank’s total share capital as of the latest available beneficial position on August 14, 2026, and said the RBI’s approval came via a letter dated August 19 after LIC’s application.
HDFC Bank said the approval remains subject to conditions, including compliance with the Banking Regulation Act, 1949, RBI directions on acquisitions and holdings of shares or voting rights by commercial banks, Foreign Exchange Management Act rules, and applicable SEBI regulations and other laws.
In its latest quarter results, HDFC Bank reported standalone net profit of ₹19,059.72 crore for April to June of FY27, up 4.98% year-on-year. The company also said net interest income rose 6.7% year-on-year to ₹33,535.95 crore, while net interest margin was 3.26% on total assets and 3.40% on interest-earning assets during the quarter.