Bank of Maharashtra - Establishment of a Joint Venture

Bank of Maharashtra has announced that the Bank has decided to establish a joint venture for general insurance business in partnership with M/s. Shriram Financial Services holdings Pvt Ltd. and M/s. Sanlam Ltd, South Africa. The Bank has decided to take an equity stake of 15% in the proposed joint venture.

The bank will approach the Regulatory authorities for necessary approvals shortly.

Source : Equity Bulls

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