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Axis Bank looks to buy near 10% stake in Go Digit Life Insurance

The development underscores private lenders' growing interest in India's lucrative and largely untapped insurance sector

Axis Bank
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Reuters Bengaluru
Indian private lender Axis Bank Ltd said on Tuesday it has signed a non-binding term sheet to invest Rs 49.9-Rs 69.9 crore for a 9.94% stake in Go Digit Life Insurance.
 
The development underscores private lenders' growing interest in India's lucrative and largely untapped insurance sector. The country's biggest private lender HDFC Bank also announced plans to buy a 9.94% stake in Go Digit Life last month.
 
Digit, which already has a presence in the general insurance business, is foraying into the life insurance segment with its Go Digit Life venture but has not yet received a licence for the

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Sep 27 2022 | 8:21 PM IST

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