Axis Bank cuts purchase plan to 17% from 29% in Max Life
Image Credit: shortpedia
Axis Bank on Monday said it will acquire 17 per cent stake in Max Life Insurance instead of the 29 per cent proposed earlier as per a revised deal. Axis Bank currently holds about 1 per cent stake in Max Life and is the biggest banking channel partner for the distribution of the insurer's products. Products sold through the bank reportedly account for 54 per cent of Max Life's revenues.