Wednesday, March 18, 2009

IDBI, Federal Bk invests 2.5 bn rupees in insurance venture

MUMBAI: IDBI Bank, Federal Bank and Fortis Insurance International have together invested 2.5 bn rupees in its life insurance venture to expand business. 

The funds were invested as per the shareholding pattern, a statement from the insurance venture IDBI Fortis Life Insurance said on Tuesday. 

IDBI Bank owns 48 percent in the venture, while Federal Bank and Fortis own 26 percent each

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