MBN Rao, chairman and managing director of Canara Bank, who retires from his post on June 30, will take over his new assignment as the chairman of the bank’s life insurance arm, Canara, HSBC, Oriental Bank of Commerce, Life Insurance, which kicked off its operations on Tuesday. Canara Bank has a 51% stake in the life insurance joint venture (Asia-Pacific) Holdings and Oriental Bank of Commerce have 26% and 23% stake respectively.
Source: The Financial Express
Thursday, June 19, 2008
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