BusinessPhoto: News18 BusinessFM Sitharaman Praises IDBI Bank Restructuring to Boost Growth
Union Finance Minister Nirmala Sitharaman praised the Cabinet Committee on Economic Affairs' approval of IDBI Bank's strategic restructuring. The move includes selling a 60.72% stake to Canada's Fairfax Financial Holdings for Rs 52,878 crore, reducing LIC's share to 19%. Sitharaman said this will enable foreign direct investment, strengthen India's banking ecosystem, and support the bank's next growth phase.
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