Cabinet approves Fairfax's Rs 52,878 crore bid for IDBI Bank; largest FDI ever in India's financial sector
The Indian Cabinet approved Fairfax Financial's ₹52,878 crore bid for IDBI Bank, marking the largest foreign direct investment in India's financial sector. This significant investment underscores growing international confidence in India's banking system. The deal's completion is expected to enhance IDBI Bank's capital base and operational capacity, benefiting the overall financial landscape.