Irdai directs Max Life to rejig Axis Bank deal

The Insurance Regulatory and Development Authority of India (Irdai) has asked Max Life Insurance to rework its deal with Axis Bank. The regulator has not agreed to the ‘value creation options’ condition that allowed Axis Bank to exit at a fixed price. In April, the private bank had agreed to hike its stake in the life insurer to 30% for Rs 1,600 crore.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2ZXMN13