IDBI, Federal Bank invests Rs2.5 bn in insurance venture
IDBI, Federal Bank invests Rs2.5 bn in insurance venture
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.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!