LIC Receives RBI Approval to Raise Stake in ICICI Bank to 9.99 Percent
The Reserve Bank of India (RBI) has granted approval to the Life Insurance Corporation of India (LIC) to increase its stake in ICICI Bank to 9.99%. This regulatory nod allows LIC to acquire additional shares or voting rights within a one-year window, reinforcing institutional participation in the private sector lender.
ICICI Bank Board Approves $5 Billion Offshore Borrowing Limit for Debt Issuance
The Board of Directors of ICICI Bank has approved a revised borrowing limit of up to USD 5.00 billion. The capital will be raised through the issuance of bonds, notes, or offshore Certificate of Deposits in international markets to strengthen the bank's liquidity profile and support global operations.
Emerald Finance Secures ₹10 Crore Term Loan from ICICI Bank to Fuel Expansion
Emerald Finance Ltd has raised a ₹10 crore term loan from ICICI Bank Limited to accelerate its business expansion and onward lending activities. The capital will primarily support the scaling of the company's Earned Wage Access (EWA) program, targeting employees of major corporate entities.