The Economic Times
23 Jun 2008
NEW DELHI: The Centre is understood have cleared the decks for Government of Singapore Investment Corporation (GIC) and Temasek, the two investments vehicles of the Singapore government, to pick up 10 per cent stake each in ICICI Bank, the country's largest private sector lender.
"We have no issues with GIC and Temasek picking up stakes separately in ICICI Bank," government sources said. The two investment firms would however require the Reserve Bank of India's approval. GIC and Temasek would together hold 20 per cent stake in ICICI Bank, if RBI gives its nod.
>>>> More
