ICICI bank approves making Lombard a subsidiary again
(In insurance ventures, banks can hold either less than 30% or more than 50% in accordance with the Reserve Bank of India guidelines.) ICICI Bank (the bank) currently holds 48.02% stake in ICICI Lombard (Lombard). Originally, the plan of ICICI bank was to reduce this stake to 30% for which RBI had allowed the bank … Read more