Aviva Plc's India life insurance joint venture is raising its exposure to the country's state-run banks as it bets the government's $32 billion plan to rescue lenders burdened with the record bad loans will boost their prospects. The insurer also likes metals stocks and consumption-driven sectors, especially those that target rural consumers but would avoid the non-bank finance companies, Prashant Sharma, chief investment officer at Aviva Life Insurance Co. India Ltd told Reuters. The 21 public-sector undertaking (PSU) banks, which are majority owned by the government ...
Aviva India turns to PSBs on recapitalisation plan boost
To rescue lenders burdened with the record bad loans will boost their prospects