Thursday, March 29, 2001
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SBI-Cardif likely to get life insurance license today 

 
New Delhi, March 28: The State Bank of India (SBI) is likely to obtain its life insurance license tomorrow while ICICI, Bajaj Auto and Sahara are expected to obtain the final clearance by May 2001. Insurance Regulatory and Development Authority (Irda) chairman N Rangachary told reporters in New Delhi on Wednesday that the life insurance venture between SBI and BNP Paribas subsidiary Cardif was likely to be approved tomorrow.

SBI, which forged a 74:26 venture with the French company, would be the first public sector bank to get the insurance license.Other major banks like the are yet to get clearances.

(PTI)

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