Axis Bank considers increasing stake in insurance joint venture

Axis Bank is exploring the possibility of increasing its stake in Axis Max Life Insurance from 19.99% to 30%. Executive Director Subrat Mohanty said they will evaluate the pros and cons before seeking regulatory approval. The bank could face a bill of around Rs 3,900 crore for the additional 10.01% stake. The move is possible due to RBI's 2025 master directions.