India, Oct. 15 -- Fairfax Financial Holdings intends to merge IDBI Bank, Digit Insurance and IIFL Capital Services under one financial service entity with the aim of developing a prominent financial institution in India providing banking, insurance, investment banking and wealth management services. This move was revealed by Fairfax on October 14, 2026 after being approved by the Indian government as the strategic buyer of 60.72 percent of shares of IDBI Bank for Rs.52,878 crore.

According to Prem Watsa, Chairman & CEO, of Fairfax, the merger could assist the organization in leveraging the growth potential of the financial markets of India as well as making financial products accessible to individuals and business organizations. It is im...