The Latest Breaking News from Cabinet Committee on Economic Affairs

IDBI Bank strategic restructuring to attract FDI, boost banking sector, says FM Sitharaman

The Cabinet Committee on Economic Affairs approved the strategic restructuring of IDBI Bank to attract foreign investments. The government retains a minority stake in the bank after its recovery, enabling further growth. Fairfax Financial Holdings will acquire a 60.72 percent stake in the bank for Rs 52,878 crore. The transaction…

The Economic Times · 32m ago

Cabinet approves Rs 52,878 crore IDBI Bank sale to Fairfax arm in India’s largest financial-sector FDI

The Cabinet Committee on Economic Affairs has approved the strategic sale of IDBI Bank to a Fairfax Group arm, Union Minister Ashwini Vaishnaw said. The government and Life Insurance Corporation of India will retain a combined 34% stake in the restructured entity. Vaishnaw called it India’s largest financial-sector FDI.

The Economic Times · 2h ago

Rs 2,500 crore scheme approved for ‘infrastructure development’ at Doordarshan, All India Radio

The Cabinet Committee on Economic Affairs has approved the information and broadcasting ministry’s proposal to spend over Rs 2,500 crore on “infrastructure development” at Prasar Bharati – specifically All India Radio and Doordarshan. A press release, which called it a “major boost for public broadcasting”, detailed an outlay of Rs…

Newslaundry · Jan 4, 2023