The Reserve Bank of India has approved Central Bank of India's entry into the insurance sector through a joint venture with Generali Group, pending compliance with regulations and approval from the IRDAI. This follows the Competition Commission of India's clearance for Central Bank's acquisition of stakes in Future Generali India Insurance and Future Generali India Life Insurance. Central Bank had previously won the bid to acquire stakes in the insurance ventures of the financially troubled Future Enterprises, which faced insolvency proceedings initiated by Bank of India.
Congress leader YS Sharmila criticized her brother, YS Jagan Mohan Reddy, for his comments about their family dispute being a common story, questioning the appropriateness of taking their mother to court. She highlighted that shares of Saraswati Power and Industries, promised to be transferred to her, were never attached by the Enforcement Directorate, suggesting they could have been transferred earlier. Jagan has since sought to revoke their 2019 MoU and accused Sharmila of illegally transferring shares held by him and his wife.
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