Fairfax takeover of IDBI marks India’s biggest financial sector FDI, accelerates bank privatisation push
Canada’s Fairfax Financial will acquire 60.72 percent of IDBI Bank for about Rs 52,878 crore, a transaction the government and markets describe as the largest foreign direct investment in India’s banking sector. The deal shifts a state-backed lender into private hands and raises questions about regulatory approvals, ownership rules and the future of related bank holdings.