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Vijaya Bank plans direct foray into insurance
Vijaya Bank proposes to enter into insurance business directly after it finalises its exit from the three-way life insurance joint venture that it had entered into along with Principal Financial Group of the US and Punjab National Bank.
Vijaya Bank proposes to enter into insurance business directly after it finalises its exit from the three-way life insurance joint venture that it had entered into along with Principal Financial Group of the US and Punjab National Bank .
Top executives of all the three joint venture partners are meeting on April 10. The Chairman and Managing Director, Mr Prakash P. Mallya, told Business Line , "We will decide on our continuation in the partnership after the meeting on April 10."
The bank had indicated that it wanted to get out of the three-way joint venture broking arrangement. Vijaya Bank is a 19% stakeholder in PNB Principal Insurance Advisory Company Private Ltd.
Top executives of all the three joint venture partners are meeting on April 10. The Chairman and Managing Director, Mr Prakash P. Mallya, told Business Line , "We will decide on our continuation in the partnership after the meeting on April 10." 
