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Approved as strategic buyer of IDBI Bank
On 17 October 2026, India's finance ministry addressed a legal question that had hung over the IDBI Bank sale for years: does the IDBI (Repeal) Act, 2003 restrict the government from reducing its stake in the bank? The ministry's answer — no — rested on a rejected parliamentary amendment and a 2018 Delhi High Court ruling, and it arrives just days after the government named Fairfax Financial Holdings as the strategic buyer for a 60.72% stake worth roughly ₹52,878 crore.
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