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IDBI Bank sale to Fairfax: FinMin cites 2003 law, Delhi HC judgment

The finance ministry on Saturday said the legislative history of the IDBI (Repeal) Act, 2003, a Delhi High Court judgement and successive Union Budget speeches reflect the evolution of its policy towards the strategic disinvestment of IDBI Bank. The Cabinet earlier this week approved strategic disinvestment of IDBI Bank by selling 60.72 per cent stake to Canada's Fairfax Financial Holdings for about Rs 53,000 crore (USD 5.5 billion). The deal is the largest foreign investment in India's financi…

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Business StandardCenter·1h ago
IDBI Bank sale to Fairfax: FinMin cites 2003 law, Delhi HC judgment
The finance ministry on Saturday said the legislative history of the IDBI (Repeal) Act, 2003, a Delhi High Court judgement and successive Union Budget speeches reflect the evolution of its policy towards the strategic disinvestment of IDBI Bank. The Cabinet earlier this week approved strategic disinvestment of IDBI Bank by selling 60.72 per cent stake to Canada's Fairfax Financial Holdings for about Rs 53,000 crore (USD 5.5 billion). The deal is the largest foreign investment in India's financi…
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IDBI Bank sale to Fairfax: FinMin cites 2003 law, Delhi HC judgment

How 1 sources are covering this

IDBI Bank sale to Fairfax: FinMin cites 2003 law, Delhi HC judgment

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