Pankaj Chaudhary

Money Moves

Defending employee protections in the deal

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

Rule Changes

As of May 2026: Assisting with Union Budget 2026-27 preparation

India surpassed Japan in mid-2025 to become the world's fourth-largest economy. On February 1, 2026, Finance Minister Nirmala Sitharaman presented Union Budget 2026 (India's first major tax code rewrite since 1961), with ₹12.2 lakh crore for capital expenditure and ₹20,000 crore for carbon capture technologies.

Updated May 23