reuters.com

India to allow Fairfax two years to consolidate IDBI and CSB stake

CSB Bank logoCSB Bank
Sig2.74Sen-0.17Env0.00Soc-0.10Gov-0.28
IDBI Bank logoIDBI Bank
Sig3.80Sen+1.94Env0.00Soc0.00Gov+1.44

A majority stake sale in IDBI Bank held by the federal government and Life Insurance Corp is nearing completion, valued at over $5 billion. India may grant Fairfax up to two years to consolidate holdings by selling its CSB Bank stake or merging CSB into IDBI to meet RBI rules, though an official said the timetable could be speculative.

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