New Delhi, Dec 24 (UNI) The public sector Bank of Maharashtra (BoM) will establish a joint venture (JV) with Shriram Financial Services Holdings Pvt Ltd and South Africa-based Sanlam Ltd for general insurance business and will hold a 15 per cent equity stake in it.
The bank will approach the regulatory authorities for necessary approvals shortly, a company statement has said.
Earlier this week, the bank set a target of doubling its total business from Rs 55,000 crore expected to be achieved by the end of current fiscal to Rs 1,10,000 crore by March 2010.
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The bank will approach the regulatory authorities for necessary approvals shortly, a company statement has said.
Earlier this week, the bank set a target of doubling its total business from Rs 55,000 crore expected to be achieved by the end of current fiscal to Rs 1,10,000 crore by March 2010.
UNI SBA DKS GC1212
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