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Reliance Mutual Fund has been renamed Nippon India Mutual Fund following the purchase of what percentage stake in Reliance Nippon Life Asset Management by Nippon Life Insurance?

1. 60
2. Placeholder for garbled text
3. 70
4. 75

Correct answer: 60

Solution

Nippon Life Insurance acquired a 60% stake in Reliance Nippon Life Asset Management, after which Reliance Mutual Fund was renamed Nippon India Mutual Fund. The question asks for that stake percentage.

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