The Reserve Bank of India (RBI) proposed today that while AMCs, insurance companies and pension funds will be required to get an approval from RBI for initial acquisition of major shareholdings, all subsequent stake purchases could be made with a one-time approval. Once received, this approval will be valid unless it is revoked by the RBI. Currently, any AMC, insurance company or pension fund is required to get an approval from RBI for an initial stake purchase of five per cent or more in a bank or any subsequent stake purchase if its aggregate shareholding in the bank falls below five per cent at any point of time.