Tuesday May 27, 03:46 AM
'FDI hike in insurance not soon'
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By corporatebureau&agencies
Bajaj Auto chairman Rahul Bajaj said if the government allows higher FDI in insurance, Germany's Allianz has the call option to raise its stake in their insurance JV from the present 26% to 49%. Bajaj, however, said he doesn't see the FDI hike in insurance happening now. It would be taken up by the next government in the centre, the Rajya Sabha MP said. According to media reports, Allianz AG is keen on picking up stake in Bajaj Finserv's proposed mutual fund venture. Sanjiv Bajaj, managing director, Bajaj Finserv said on Monday that the company will decide on foraying in to mutual fund operations by October.
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