The Competition Commission of India (CCI) has cleared Patanjali Ayurved's proposal, along with five other entities, to acquire a 98% majority stake in Magma General Insurance. The deal, which will see Patanjali Ayurved assume the role of the insurance company’s promoter, was approved through the green channel route under Section 6(4) of the Competition Act, 2002. This acquisition is part of Patanjali’s strategic move to diversify its business portfolio beyond its current focus on healthcare and fast-moving consumer goods (FMCG) into the rapidly growing insurance sector.