Life Insurance Corporation of India (LIC) has increased its stake in Kotak Mahindra Bank by 0,73 percent in the second quarter, according to the latest stock exchange data. Other major public shareholders in the bank include SBI Mutual Fund (2.81 per cent), Axis Mutual Fund (1.51 per cent), Canada Pension Plan Investment Board (6.38 per cent), Europacific Growth Fund (4.98 per cent), Oppenheimer Developing markets fund (3.34 per cent) among others.