India Cabinet Approves Rs.52,878-Crore IDBI Bank Stake Sale to Fairfax
The government approved the sale of a combined 60.72% stake in IDBI Bank by the Centre and LIC to a Fairfax-backed entity for Rs.52,878 crore, the finance ministry said.
New Delhi, Oct. 14 -- The Indian government has approved the "strategic restructuring" of IDBI Bank, with the Centre and state-run Life Insurance Corp. The…