IDBI, Federal Bank invests Rs2.5 bn in insurance venture

IDBI, Federal Bank invests Rs2.5 bn in insurance venture
Comment E-mail Print Share
First Published: Tue, Mar 17 2009. 11 57 AM IST
Updated: Tue, Mar 17 2009. 11 57 AM IST
Mumbai: IDBI Bank, Federal Bank and Fortis Insurance International have together invested Rs2.5 billion in its life insurance venture to expand business.
The funds were invested as per the shareholding pattern, a statement from the insurance venture IDBI Fortis Life Insurance said on Tuesday.
IDBI Bank owns 48% in the venture, while Federal Bank and Fortis own 26% each.
Comment E-mail Print Share
First Published: Tue, Mar 17 2009. 11 57 AM IST