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CCI Approves Central Bank of India's Proposed Acquisition of 24.9% Stake in FGIICL and 25.18% in FGILICL.

Banking & Finance | Dated: 30 Oct 2024

The Competition Commission of India (CCI) has granted approval for the Central Bank of India's proposed acquisition of a 24.9% stake in Future Generali India Insurance Company Limited (FGIICL), a general insurance company, and a 25.18% stake in Future Generali India Life Insurance Company Limited (FGILICL), a life insurance company.

🎯 Key Highlights:

  • - The Competition Commission of India (CCI) has approved Bharti Airtel Limited’s proposal to increase its stake in Indus Towers Limited (a passive telecom infrastructure provider) to 50.005%, up from its previous shareholding of 48.95%, following a share buyback by Indus Towers.

💡 Other Important Facts:

  • The CCI has also approved the proposal of Aquilo House Pte. Limited (AHPL) to acquire Aavas Financiers Limited (AFL), a housing finance company registered with the National Housing Bank (NHB), which is a non-deposit taking entity.

📚 Test Your Knowledge:

What percentage stake did the Central Bank of India recently propose to acquire in Future Generali India Insurance Company Limited (FGIICL)?

Correct Answer: 24.9%

🚀 Quick Recap:

About Competition Commission of India (CCI)

  • Chairman- Ravneet Kaur
  • Headquarters: New Delhi