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The Economic Times

Economy / The Economic Times

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IDBI Bank-Fairfax deal: Government to retain 15% stake, LIC to hold 19%

The government will retain a 15% equity stake in IDBI Bank and Life Insurance Corporation will hold 19%. Both the government and LIC will withdraw their nominees from the bank's board and become public shareholders. The Cabinet Committee on Economic Affairs has empowered the Alternative Mechanism for minority stake sales of the government's holdings. LIC will manage its residual shareholding as per internal procedures and regulatory compliance.

14 Oct 2026 5:41 pm