Govt clarifies no legal bar on IDBI Bank stake sale

India's Finance Ministry clarified that the IDBI (Repeal) Act, 2003 has no provision barring the government from divesting its stake in IDBI Bank. Citing a 2018 Delhi High Court ruling, the ministry defended the approved sale of 60.72% stake to Canada's Fairfax Financial Holdings for ₹52,878 crore on October 14.