New Delhi, Oct. 14 -- The Union Cabinet on Wednesday approved the strategic restructuring of IDBI Bank.

According to a PTI report, the government will sell 60.72% stake in IDBI Bank to Fairfax Financial Holdings for Rs.52,877 crore.

This is the biggest disinvestment by the Union government after Air India.

More details awaited

Published by HT Digital Content Services with permission from MINT....