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Canadian firm to buy IDBI Bank's 60% stake
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New Delhi: Canada-based Fairfax Financial Holdings will acquire a majority 60.72% stake in IDBI Bank for Rs 52,878 crore ($5.47 billion). The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi approved the deal on Wednesday.This will be the largest inflow of foreign direct investment (FDI) into the country so far.At present LIC is the largest shareholder of IDBI Bank, which has been categorised by the Reserve Bank of India (RBI) as a private sector bank since January 2
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