Punjab National Bank (PNB), the country’s second largest public sector bank, intends to divest its shareholding in Canara HSBC OBC Life Insurance Co Ltd, a life insurer that started its journey in 2008.
Post the amalgamation with Oriental Bank of Commerce (OBC) from April 1 last year, PNB had become promoter-shareholder, with 23 per cent stake in Canara HSBC OBC Life Insurance.