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BoB to foray into life insurance

NEW DELHI: Bank of Baroda on Friday entered into an agreement with U.K.-based Legal and General Group to set up a life insurance venture with an initial paid-up capital of Rs. 200 crore. BoB will be the lead partner with 44 per cent stake. The other domestic partner in the three-way venture is Andhra Bank with 30 per cent stake, while the remaining 26 per cent would be with the British firm.

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