 "stake, share, investment, equity, shareholder, promoter, banks, disinvestment, markets, returns, stocks,diversification")
The Insurance Regulatory and Development Authority of India (Irdai) has allowed the recently merged Punjab National Bank (PNB) to hold promoter stake in two life insurance companies – PNB Metlife and Canara HSBC OBC Life Insurance.
After the merger of Oriental Bank of Commerce and United Bank of India with PNB on April 1, the Delhi-based lender holds 30 per cent stake in PNB MetLife and 23 per cent in Canara HSBC OBC Life Insurance.
The insurance regulator has allowed PNB to keep its shareholding in both the insurance companies intact for now. It has directed the bank to have board representation
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