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Fair trade regulator CCI has approved 30 per cent stake purchase by state-owned Punjab National Bank (PNB) in MetLife India Insurance Company. The Competition Commission of India (CCI) said the deal would not have any adverse impact on the competition scenario. Read more
The 73rd meeting of the Board of Insurance Regulatory and Development Authority (IRDA) was held on August 31, 2012 at New Delhi. Amongst the various agenda items considered by the Board, the IRDA considered the proposal for change in the shareholding pattern of M/s. MetLife India Insurance Company Limited and broadening the definition of ‘Indian Promoter’ as defined under the IRDA (Registration of Indian Insurance Companies) Regulations, 2000 to include a Limited Liability Partnership. Read more