The Indian government is selling 60.7% of IDBI Bank to Fairfax Financial Holdings Limited for Rs 52,878 crore, the largest foreign direct investment in the financial sector. IDBI Bank had required repeated capital infusions, leading to restrictions and strategic restructuring. The sale will leave the government and Life Insurance Corporation with 15% and 19% stakes, respectively.
Source: scroll.in
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This dispatch was curated by NewsBite from accredited public feeds published by scroll.in (reporting by Pooja Reddy). We synthesize essential facts while preserving original source attribution. For full investigative context, consult the original article linked above. Learn more about our standards in our Editorial Guidelines and Disclaimer.
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According to verified reporting, The Indian government is selling 60.7% of IDBI Bank to Fairfax Financial Holdings Limited for Rs 52,878 crore, the largest foreign direct investment in the financial sector.
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