Fairfax

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Banking, Fintech & Insurance 05 Nov 2026, 05:00 PM IST

Finance Ministry Defends IDBI Bank Sale Valuation, Says Reserve Price Was Never Altered

The finance ministry on Tuesday defended the valuation and bidding framework used in the proposed sale of IDBI Bank, saying the process was reviewed and approved by the core group of secretaries on disinvestment. It said Fairfax’s Rs 81-a-share offer cleared the benchmark and independent fair-value estimates, and that safeguards in the transaction were designed to maximise value for the government and LIC.

By RDU Global Wire6 min read

Banking, Fintech & Insurance02 Nov 2026, 05:00 PM IST

IDBI Bank Staff Forum Opposes Fairfax Stake Sale, Demands Parliamentary Review

The United Forum of IDBI Officers and Employees has opposed the government’s proposed majority stake sale in IDBI Bank to Fairfax Financial Holdings, arguing that the transaction warrants deeper public and parliamentary scrutiny. The forum has raised concerns over possible undervaluation of the lender’s assets and the broader social responsibilities attached to a bank with a large public-interest footprint.

6 min readRead →

Banking, Fintech & Insurance01 Nov 2026, 05:00 PM IST

Prem Watsa Says Fairfax Is Backing India’s Next Decade of Growth Through IDBI Bank

Fairfax Financial chairman Prem Watsa said the group is positioning itself to benefit from India’s long-term economic expansion, underscoring its major stake in IDBI Bank as a strategic bet on the country’s growth story. Watsa expressed confidence in the lender’s recovery after years of stress, while stressing that fiscal discipline and employee welfare will remain central to the turnaround.

5 min readRead →

Banking, Fintech & Insurance01 Nov 2026, 02:00 PM IST

IDBI Bank Staff Forum Opposes Fairfax Stake Sale, Demands Parliamentary Scrutiny

The United Forum of IDBI Officers and Employees has opposed the government’s proposed sale of a majority stake in IDBI Bank to Fairfax Financial Holdings, arguing that the transaction may undervalue the lender’s assets and should be subjected to deeper public and parliamentary review. The planned deal, estimated at about Rs 53,000 crore, has reopened debate over valuation, ownership, and the social obligations of a bank with a long public-sector legacy.

5 min readRead →

Banking, Fintech & Insurance01 Nov 2026, 08:00 AM IST

IDBI Bank Staff Forum Opposes Fairfax Stake Sale, Demands Parliamentary Review

The United Forum of IDBI Officers and Employees has opposed the government’s planned sale of a majority stake in IDBI Bank to Fairfax Financial Holdings, arguing that the transaction warrants deeper public and parliamentary scrutiny. The employee body has raised concerns over possible undervaluation of the lender’s assets and the broader social obligations attached to a bank with public-sector roots.

5 min readRead →

Banking, Fintech & Insurance31 Oct 2026, 08:00 PM IST

Fairfax Puts Forward Plan to Untangle IDBI-CSB Ownership Overlap

Fairfax Financial Holdings has proposed a path to resolve the ownership overlap between IDBI Bank and CSB Bank, with a merger of the two lenders emerging as the most likely outcome, according to sources. The move could allow the Canadian investor to consolidate its banking interests under a single licence and simplify a structure that has drawn regulatory and strategic scrutiny.

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Banking, Fintech & Insurance30 Oct 2026, 05:00 PM IST

India Becomes Fairfax’s Biggest Exposure as Prem Watsa Backs IDBI Bank and Says He Has Zero AI Bets

Canadian investor Prem Watsa said India has become Fairfax Financial Holdings’ largest country exposure, underscoring the firm’s long-term conviction in the Indian economy as it moves to acquire a majority stake in IDBI Bank. In a phone interview, Watsa said the company has made no bets on artificial intelligence, even as global markets chase the theme, and framed the IDBI transaction as a vote of confidence in India’s growth prospects.

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Banking, Fintech & Insurance30 Oct 2026, 02:00 PM IST

"Nothing to fear": Top bureaucrat says IDBI staff, pensioners' service conditions won't change after Fairfax deal

The government has sought to calm anxieties among IDBI Bank employees and pensioners as the proposed strategic sale to Fairfax advances, with the Department of Investment and Public Asset Management secretary saying their service conditions will remain unchanged. The assurance comes amid rising labour resistance, including a planned strike at IDBI branches in early November backed by the United Forum of Bank Unions.

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Banking, Fintech & Insurance29 Oct 2026, 08:01 PM IST

Government to Retain 15% in IDBI Bank as LIC Keeps 19% in Fairfax-Backed Exit Plan

The government will retain a 15% equity stake in IDBI Bank while Life Insurance Corporation will hold 19%, marking a significant step in the lender’s long-running disinvestment process. Both shareholders will withdraw their nominees from the bank’s board and transition into public shareholders, while the Cabinet Committee on Economic Affairs has empowered the Alternative Mechanism to handle minority stake sales.

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Co-Occurring Entities

Entities frequently referenced alongside Fairfax:

New Delhi(2)IDBI Bank(2)Life Insurance Corporation of India(1)Finance Ministry(1)DIPAM Secretary(1)Department of Investment and Public Asset Management(1)