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RBI refuses to consider Axis Bank-Max Life Insurance deal in current form, seeks restructuring of the deal

Updated : October 30, 2020 08:31 PM IST

Also, Axis entities will have the right to acquire up to a 7 percent stake in Max Life Insurance going forward.
Under Para 5(b) of Master Direction, an entity does not require RBI approval for an acquisition involving less than 10 percent of the investee company’s paid-up capital.

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