BoM to set up JV, to acquire 15% stake

New Delhi, Dec 22 (UNI) 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 said today.

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