The board of directors of Allahabad Bank will meet on Thursday to consider the structure of Universal Sompo General Insurance Company (USGI). Currently, the bank holds 30 per cent stake in the insurance joint venture company.
The board may deliberate on partial or complete disinvestment of its stake in USGI. Other prominent shareholders of USGI include Indian Overseas Bank (19 per cent), Karnataka Bank (15 per cent) and Dabur (10 per cent).
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