Current Affairs - Banking - Discussion

Karnataka Bank will sell 8.26 % stake in Universal Sompo General Insurance to Dabur Investment Corporation and Sompo Japan. This transaction is waiting for approval from Insurance Regulatory and Development Authority of India (IRDAI). After this transaction, Karnataka Bank's stake in the general insurance company will reduce to 6 percent from the current 14.26 percent. Sompo Japan's stake will increase to 34.61 percent from 28.42 percent and Dabur Investment Corporation's stake will increase to 12.81 percent from 10.74 percent.