Life Insurance Corporation of India (LIC) may be roped in to participate in the Rs2.11 trillion bank recapitalisation initiative, according to people close to the development.
As part of the bank recapitalisation programme, LIC could also increase its stake in various public sector banks which are required to raise Rs58,000 crore from the capital market, the people said. Besides, they said, LIC could participate in a non-operating holding company (NOHC) structure to which the government may transfer its share in various public sector holdings.
