India Cabinet Approves Strategic Restructuring of IDBI Bank
India’s information minister said the cabinet approved a strategic restructuring of IDBI Bank.
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10:59:50 AM UTC
SquawkNews
Canada's Fairfax Financial Holdings TSX:FFH will buy a majority stake in India's IDBI Bank, CNBC TV-18 reported on Wednesday.The Indian government has approved a strategic restructuring of IDBI Bank NSE:IDBI, Information Minister Ashwini Vaishnaw said, without sharing the name of the buyer.The deal…
11:02:56 AM UTC
SquawkNews
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday, October 14, approved the long-awaited strategic restructuring of IDBI Bank in a deal valued at over ₹52,878 crore, paving the way for what the government described as the largest foreign direct investment (FDI) transaction in India's ba…