Unlike Swiss Re, I'll be brief here.
1. 6 rounds of interview spanning across 5 months.
2. Cleared all 6 (as per the HR) and they told me the offer (CTC) verbally.
3. Negotiated for more.
4. HR asked me to wait while they check with the hiring managers.
5. On the 4th day, got a message from the HR that they have put this requirement on hold and I can pursue other leads.
It is better that this happened now rather than later around the time of joining because I was looking forward to joining them if it had come through.
Good thing that I had other options.