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SBI to dilute stake in life insurance wing by 10 percent

Mumbai, March 31 (IANS) Following passage of the law increasing the maximum limit of foreign direct investment in the insurance sector from 26 percent to 49 percent, the State Bank of India (SBI) on Tuesday said it is reducing its existing stake in SBI Life Insurance by a maximum of ten percent. "The Executive Committee of the Central Board (ECCB) has on March 30, 2015 authorised divestment of …
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