Life Insurance Corporation of India (LIC)

Money Moves

Selling its 30.24% stake in IDBI Bank

On 17 October 2026, India's finance ministry settled a legal question that had hung over the IDBI Bank sale for years: does the IDBI (Repeal) Act, 2003 restrict the government from reducing its stake? Its answer — no — rests on a rejected 2003 amendment and a December 2018 Delhi High Court ruling, three days after the Cabinet named Fairfax Financial Holdings as buyer of a 60.72% stake for ₹52,878 crore.

Updated Oct 18