Vijaya Bank to Foray into Insurance Business

Vijaya Bank is mulling to float life and non-life insurance companies following the bank’s decision to pull out of its insurance joint venture – PNB Principal Insurance Advisory Company Private Ltd – with the Punjab National Bank (PNB) and the Principal Financial Group of the US.

The bank is likely to take a decision in the next three to four months on the modalities of its proposed insurance foray.

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