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The Economic Times

Business

Finance Ministry clarifies on legislative developments concerning govt's IDBI Bank stake

IDBI Bank Finance Ministry Delhi High Court

The Finance Ministry on Saturday issued a clarification after comments and views floated on media reports questioning the legislative developments in 2003 concerning the government's shareholding in IDBI Bank.

The development comes days after the Cabinet Committee on Economic Affairs (CCEA) approved strategic restructuring of the IDBI Bank Ltd., and decided to sell 60.72% of the equity stake to Fairfax Financial Holdings' subsidiary for Rs Rs 52,878.08 crore.

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