Current Affairs - Banking - Discussion

The Life Insurance Corporation of India (LIC) increased its equity shareholding in the Central Bank of India to 6.06% through a market purchase on May 22, 2026. Earlier, LIC held a 3.16% stake, and the transaction involved acquiring an additional 2.901% equity in the public sector bank. This move reflects LIC’s continued investment strategy in government-owned financial institutions. LIC, headquartered in Mumbai and established under the LIC Act of 1956, is India’s largest state-owned insurance and investment entity. Central Bank of India, also headquartered in Mumbai and founded in 1911, is one of the oldest public sector banks and was nationalised in 1969 along with other major commercial banks.