Reliance Capital, Nippon Life Insurance To Start A Commercial Bank In India
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According to
With a view to improve the financial infrastructure of India, Nippon Life Insurance is participating in this bank project as part of strategic business alliance, said Tsutsui.
It is important to note that the Japanese insurer has a 26% stake in Reliance Capital Asset Management Company acquired for $290 million in 2012 and
The two groups further added that the partnership in the setting up of
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“The Prime Minister’s (Narendra Modi’s) visit to Japan reinforces the strategic focus of global partnership between India and Japan,” said Amitabh Jhunjhunwala, group managing director, Reliance Group.
“As a good role model of business partnership between Indian and Japanese corporations, Reliance Group and Nippon Life Group will actively further expand their collaboration, which will contribute towards strengthening the relations between India and Japan,” he said.
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