State Bank of India has received approval for divestment of its stake in SBI Life Insurance Co by up to 10%. The executive committee of the central board of the bank authorized the divestment, the bank said in a statement to the exchanges. SBI Life Insurance is a joint venture between the State Bank of India and BNP Paribas Cardif, the life, property and casualty insurance arm of France’s BNP Paribas SA.
