IDBI Bank strategic restructuring to attract FDI, boost banking sector, says FM Sitharaman
The Cabinet Committee on Economic Affairs approved the strategic restructuring of IDBI Bank to attract foreign investments. The government retains a minority stake in the bank after its recovery, enabling further growth. Fairfax Financial Holdings will acquire a 60.72 percent stake in the bank for Rs 52,878 crore. The transaction aims to strengthen India's banking sector and reduce government…
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- Fairfax buys IDBI for US$5.6 billion in India’s biggest bank deal financialpost.com
- Fairfax to Buy IDBI for $5.6 Billion in Biggest India Bank Deal insurancejournal.com
- Fairfax Financial Buying Majority Stake in India’s IDBI Bank wsj.com
