India approves foreign takeover of a domestic bank

Summary

India has approved a foreign takeover of a domestic bank, which the Financial Times describes as the country's biggest. CNBC reports that the government announced a $5.5 billion stake sale in IDBI Bank to Canada's Fairfax, and that IDBI shares fell 7%.

Timeline

1. cnbc.com

   15 Oct 2026, 06:12 UTCSource ↗

   CNBC reports that IDBI Bank shares fell 7% as the Indian government announced a $5.5 billion stake sale to Canada's Fairfax.

2. ft.com

   15 Oct 2026, 07:19 UTCSource ↗

   The Financial Times reports that India approved what it calls the biggest foreign takeover of a domestic bank.