India Cabinet Approves IDBI Bank Stake Sale to Fairfax
The Union Cabinet approved the sale of a stake in IDBI Bank to Fairfax Financial Holdings for over ₹52,000 crore.
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04:41:23 PM UTC
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With the proposed proceeds from selling stake in IDBI Bank, the amount under ‘Miscellaneous Capital Receipts (MCR) is set to exceed the budget estimates for Fiscal Year 2026-27. Also, the proceeds from disinvestment will be the highest after 2018-19 and if minority stake sale in CPSEs continue, it…
72 per cent stake in IDBI Bank to Canada-based Fairfax Financial Holdings Ltd. The transaction, valued at over ₹52000 crore, is the biggest foreign direct investment in India’s financial sector to date.