The government is considering allowing foreign direct investment (FDI) in Life Insurance Corporation (LIC), according to a person familiar with the matter, which could enable a single overseas investor to buy a large stake in the firm that’s headed for a mega-IPO. The Reserve Bank of India (RBI) defines FDI as purchase of a stake that’s 10% or larger by an individual or entity based abroad.

from Times of India https://timesofindia.indiatimes.com/business/india-business/government-considers-allowing-foreign-direct-investment-in-life-insurance-corp/articleshow/85590023.cms