SBI Life Insurance Company Ltd.

Securities and Exchange Board of India (SEBI) has pulled up SBI Life insurance for not complying with minimum public shareholding (MPS) norms and directed the insurer to be cautious in the future. The SEBI also pointed out that the shares sale between March 7 and April 1, 2019 in the open market were not undertaken with a view to complying with MPS norms of 25 per cent.

SBI Life Insurance Company is a joint venture between the State Bank of India and the French financial services heavyweight BNP Paribas Cardiff.