UPDATE 1 — Canada's Fairfax Financial Holdings buys majority stake in India's IDBI Bank, CNBC TV — 18 reports

(Adds details) NEW DELHI, Oct 14 (Reuters) — Canada's Fairfax Financial Holdings 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, Information Minister Ashwini Vaishnaw said, without sharing the name of the buyer. The deal will be worth more than 520 billion rupees ($5.47 billion), the minister said. ($1 = 95.1500 Indian rupees) (Reporting by Hritam Mukherjee, writing by Shanima Aniyeri; Editing by YP Rajesh and Mrigank Dhaniwala) ((shanima.a@thomsonreuters.com;)