ICICI, HDFC, SBI will have to offload Rs 1.2 lakh cr if RBI caps stake in insurance arms: Report

Just State Bank of India, HDFC and ICICI Bank will have to offload equity worth Rs 1.21 lakh crore if the central bank goes ahead with its reported plan to make banks cap their stakes in insurance arms at 20 per cent, says a report. Quoting unnamed RBI officials, a media report earlier this week said the monetary authority is not comfortable with banks owning controlling stake in non-core businesses like insurance ventures which are capital guzzlers and wants banks to cap ownership in insurance arms/ companies at a maximum of 20 per cent.

News Source:- https://www.financialexpress.com/industry/banking-finance/icici-hdfc-sbi-will-have-to-offload-rs-1-2-lakh-cr-if-rbi-caps-stake-in-insurance-arms-report/2206498/