Axis Bank Ltd.

Axis Bank has received approval from Competition Commission of India (CCI) for acquisition of stake in Max Life Insurance. The shareholding of Axis Bank in Max Life will increase to approximately 9.9 per cent.

Currently, the bank holds about 1 per cent stake in Max Life and is also the biggest distributor of the insurer's products through banking channel. Additionally, Axis Capital and Axis Securities will acquire 2 per cent and 1 per cent, respectively, shareholding in Max Life.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.