The Economic Times

Pivot to Privatisation 2.0: Why IDBI Banks sale should rev up Indias push to privatise remaining non-strategic PSBs and PSUs

Last week, the Cabinet Committee on Economic Affairs approved the sale of IDBI Bank's majority stake. The stake, held by the Government of India and LIC, will be sold to Fairfax Financial Holdings Ltd. This decision is part of the ongoing privatisation programme aimed at modernising the Indian economy. IDBI Bank has recently shown impressive performance, strengthening the case for privatisation.