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In May 2020, IRDAI has approved Union Bank of India's proposal to continue with its how much per cent holding in IndiaFirst Life Insurance?

In May 2020, IRDAI has approved Union Bank of India's proposal to continue with its how much per cent holding in IndiaFirst Life Insurance? Correct Answer 30

  • Insurance Regulatory and Development Authority of India (IRDAI) has approved Union Bank of India's proposal to continue with its 30% holding in IndiaFirst Life Insurance.
  • The bank was earlier expected to divest either the entire stake in IndiaFirst Life Insurance or a sizable part of it, as IRDAI guidelines prohibit a lender to own more than 10% stake in two insurance companies.
  • IRDAI: Headquarters - Hyderabad

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