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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The acquisition of IDBI Bank puts his Fairfax smack dab in the middle of the RBI’s rules on bank ownership. It must now decide whether to sell CSB Bank or merge the two lenders, neither of which will be easy.
Prem Watsa is beginning to look like a white knight for Indian banking. In 2019, the Canadian Indian billionaire acquired CSB Bank, a small lender that needed a turnaround. Now, his Fairfax Financial Holdings is buying a 60.72% stake in IDBI Bank for Rs 52,878 crore (almost $5.6 billion), taking on a lender with a troubled past and helping the government finally push through a long-delayed divestment.
The sale of IDBI Bank had been stuck for almost five years. Several potential buyers showed interest, but none went through with a deal. “Watsa has picked up something which has been rejected …
Lenders stand to gain a lot more than borrowers in the current challenging market environment
The two new chief executives at Air India and IndiGo come with contrasting reputations but face the same challenge—do their predecessors one better.
In a surprise move on Wednesday, the Tata Sons chairman announced he will exit Bombay House at the end of his tenure in February 2027. He leaves at what is one of the most crucial times for the group.
