Max New York to inject Rs 300 crore

 The board of the company has approved the scheme of accepting the fresh investment from Max India and New York Life Insurance Company, the parent company of MNYL, at a meeting held in New Delhi on last Friday.  MNYL, which has issued over 1,75,000 policies till end of March, this year has also decided to expand its operations in mini-metros and rural segment of the country during next two years.  The investment will be in the 74:26 ratio as Max India holds 74 per cent stake in the MNYL while the parent company, NYL holds a stake of 26 per cent.