Canada's Fairfax buys 60.7% of IDBI Bank for nearly $6bn
Business
Canada's Fairfax just bought a 60.7% stake in IDBI Bank for nearly $6 billion, making it one of the biggest bank deals India has seen since 2019.
This move shows that international investors are feeling pretty optimistic about India's banking scene, and it lines up with the government's push to bring in more private players and fresh energy.
India proposes raising foreign ownership limits
Fairfax isn't alone: major firms like Blackstone and Mitsubishi UFJ are also looking at Indian financial companies.
Plus, new rules proposed by the government are making it easier for foreign investors to get involved by raising ownership limits.
All this is expected to boost India's banking system and help drive economic growth.