Govt approves 26% stake sale of Reliance life insurance to Nippon

[IndiaInsurance]

The government has allowed Anil Dhirubhai Ambani Group firm Reliance Life Insurance to sell 26% stake to Japan's largest life insurer Nippon Life Insurance. But it has asked the insurance regulator to frame a common policy before approving the deal, a source familiar with the development. The deal, announced in March, is worth $680 million.

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