Question

What stake percentage has the Reserve Bank of India (RBI) approved for Life Insurance Corporation of India (LIC) to acquire in HDFC Bank?

A 5.5% Correct Answer Incorrect Answer
B 7.75% Correct Answer Incorrect Answer
C 9.99% Correct Answer Incorrect Answer
D 11.25% Correct Answer Incorrect Answer
E 13.5% Correct Answer Incorrect Answer

Solution

Explanation:

The RBI has approved LIC's proposal to acquire up to 9.99% stake in HDFC Bank, and LIC is required to acquire a major shareholding within a period of one year (by January 24, 2025).

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