MUMBAI (Reuters) - State Bank of India, the country's largest lender, said on Tuesday it had received approval for divestment of its stake in private life insurer SBI Life Insurance Co Ltd by up to 10 percent.
The executive committee of the central board of the bank authorised the divestment on Monday, State Bank of India said in a statement to the exchanges.
SBI Life Insurance is a joint venture between the State Bank of India and BNP Paribas Cardif, the life, property and casualty insurance arm of France's BNP Paribas SA.
(Reporting by Zeba Siddiqui in Mumbai; Editing by Anand Basu)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app