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Business News/ Companies / IDBI, Federal Bank invests Rs2.5 bn in insurance venture
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IDBI, Federal Bank invests Rs2.5 bn in insurance venture

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

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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.

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Published: 17 Mar 2009, 11:57 AM IST
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