Bank of India (BoI) is aiming to raise Rs 1,000-1,200 crore by offloading its entire 28.96% stake in life insurance joint venture (JV), Star Union Dai-Ichi Life Insurance.
Star Union Dai-ichi Life Insurance, which commenced operations in February 2009, is a JV between Bank of India, Union Bank of India and the Japanese major Dai-ichi Life Insurance Company. The bank owns 28.96% in the JV, Union Bank of India holds 25.10%, and Dai-chi is the single largest shareholder with 45.94% stake.
BoI offers wide range of services such as Personal banking, Corporate, Rural, MSME, Retail, NRI services, Cards/ATM etc.
