Economy · India
Fairfax to consolidate India holdings under IDBI Bank
Canadian financial group Fairfax plans to consolidate its India holdings, including Digit and IIFL Capital, under IDBI Bank. Fairfax was selected as the strategic buyer for a 60.7% stake in IDBI Bank for Rs 52,878 crore. The company's Chairman, Prem Watsa, intends to transform IDBI Bank into a global Indian financial institution by integrating banking, insurance, wealth management, and investment banking services. Fairfax aims to retain CEO Rakesh Sharma at the helm and believes the combined entity will be well-positioned for growth in Indian markets.
How outlets across the spectrum covered it
L 1 C 5 R 0
- Left (1): The Telegraph (India)
- Centre (5): Deccan Chronicle, The Free Press Journal, The Hindu BusinessLine, The Statesman, The Times of India