Cabinet approves Rs 52,878 crore divestment of IDBI Bank to Fairfax-led consortium

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The Union Cabinet has approved the strategic divestment of IDBI Bank. The government and LIC will sell a majority stake to a consortium led by Fairfax Financial Holdings for Rs 52,878 crore. The transaction is part of the government's ongoing privatization initiative. The deal is expected to be finalized after regulatory approvals.

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