CutTheClutter: Significance of Modi govt approval of IDBI bank sale to Canada's Fairfax & why it's a reformist move

#cuttheclutter

Modi govt has approved the sale of 60.72% stake in IDBI bank to Canada's Fairfax, that will acquire the stake for 528.78 billion rupees. #CutTheClutter Episode 1919 looks at why the strategic sale of IDBI is a reformist move. Shekhar Gupta traces the story of IDBI bank that was established in 1964 as a development financial institution, and how it moved from bad-loan crisis to the deal now. ThePrint Editor-In-Chief also explains the significance of the Fairfax deal and what it says about privatisation.

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