Axis Bank Ltd informed it has become co-promoters of Max Life Insurance Company Limited, after completion of the acquisition of 12.99% stake collectively by the Axis Entities in the company. Axis Bank and its two subsidiaries Axis Capital Limited and Axis Securities Limited will collectively own a 12.99% stake in Max Life after the consummation of the deal.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The Axis Entities have a right to acquire an additional stake of up to 7% in Max Life, in one or more tranches, subject to regulatory approvals. Insurance Regulatory and Development Authority of India (IRDAI) gave its formal approval in February of 2021.
Important takeaways for all competitive exams:
Every year, 21 January holds special importance in India's political and cultural calendar. On this…
NASA is set to historic launch for human space exploration. The US space agency is…
Every part of the world is known for something special. Some places are famous for…
India is known as the land of spices, and among them, one stands out for…
The term "Workshop of the World" is used to describe a country that makes a…
In Rajasthan, every district has something special that makes it different from others. Some are…