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Informative
Life Insurance Corporation Raises Stake in Bank of India to 8.38%
Update / Judgement Date
13 May 2025
Source
Author
Team — WCP Legal Desk
Reading Time
1 min read
BankingInsurance
The Life Insurance Corporation of India (LIC), a major state-owned financial institution, has increased its stake in Bank of India, a prominent public sector bank, to 8.38%. This increase was achieved through open market purchases of shares valued at approximately ₹1,200 crore. The move reflects LIC's strategic objective of increasing its exposure to the public sector banking segment, anticipating a potential revival in credit growth within the Indian economy in the near future.
