India, Nov. 9 -- The long-awaited sale of IDBI Bank, first proposed in the 2021-22 budget, is finally seeing the light of day, marking the Government's most significant strategic divestment since Air India in 2022. On October 14, 2026, Government of India (GoI) announced a Cabinet decision to sell its controlling stake in IDBI Bank to Fairfax Financial Holdings of Canada for Rs 52,878 crore. The transaction is for sale of 60.72% of the bank's equity, including 30.48% with GoI and 30.24% with Life Insurance Corporation of India (LIC). Post the transaction, GoI will hold 15% stake while LIC will have 19% stake in IDBI. The government is likely to get proceeds of about Rs 26,544 crore. It sends a strong signal that large state-owned assets c...