BusinessPhoto: Aaj TakCabinet Approves Sale of 60.72% Stake in IDBI Bank to Canadian Firm
The Indian Cabinet approved the sale of a 60.72% stake in IDBI Bank to Fairfax Financial Holdings' subsidiary for ₹52,878.08 crore. The government will retain a 15% stake, while LIC will hold 19%, totaling 34%. This deal, chaired by PM Narendra Modi, marks the largest foreign direct investment in India's financial sector. The sale process began in 2022 but faced regulatory delays.
Aaj Tak·

