Modi Speaks to Carney Ahead of Likely Canada Visit; Fairfax Buys Majority of IDBI Bank in India's Biggest Foreign Banking Deal
Fairfax plans to fold its stakes in Go Digit's insurance businesses and in IIFL Capital Services into IDBI, creating an integrated platform across banking, insurance and capital markets. The bank is far healthier than it was when privatization began. IDBI had total assets of 4.44 trillion rupees as of June 2026, and its gross bad loan ratio had fallen to 2.3% from nearly 32% in September 2018. Its shares closed up 9% on Wednesday ahead of the announcement.
15 Oct 12:33 · TFIPOST.com