Largest-ever FDI in India’s financial sector: Cabinet approves sale of IDBI Bank to Fairfax for ₹52,878 crore
The Union Cabinet approved the sale of IDBI Bank to Fairfax for ₹52,878 crore, marking the largest foreign direct investment in India's financial sector. This transaction will reduce the government's stake in the bank to 15% and Life Insurance Corporation's stake to 19%. The deal signifies a major shift in control, expected to finalize soon.