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"We are pleased to inform you that the Bank has received an intimation from the RBI on December 9, 2021, that it has granted its approval to Life Insurance Corporation (LIC), shareholder of the Bank, who holds 4.95 per cent of the total issued and paid-up capital of the Bank, to acquire upto 9.99 per cent of the total issued and paid-up capital of the Bank," IndusInd Bank said in an official statement.
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