More than 90 per cent of FDI received in the country comes under automatic route. HSBC Insurance Holdings is in talks with the Oriental Bank of Commerce and Canara HSBC Oriental Bank of Commerce Life Insurance Company ( OBC ) over increasing its stake from 51% in their joint venture, following the Indian government allowing foreign investment in insurance to rise to 51% in the country. Canara HSBC Oriental Bank of Commerce Life Insurance Company was formed by the three firms in 1999 , with Canara holding 51% , HSBC 26% and OBC 23% stakes in venture.
HSBC Insurance Holdings is in talks with the Oriental Bank of Commerce and Canara HSBC Oriental Bank of Commerce Life Insurance Company ( OBC ) over increasing its stake from 51% in their joint venture, following the Indian government allowing foreign investment in insurance to rise to 51% in the country. Canara HSBC Oriental Bank of Commerce Life Insurance Company was formed by the three firms in 1999 , with Canara holding 51% , HSBC 26% and OBC 23% stakes in venture.