Former central government bureaucrat
Appears in 1 story
Last updated Oct 18, 2026
Calls for the sale decision to be held in abeyance pending independent inquiry
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
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