Prem Watsa-led Fairfax Financial Holdings nears 60.7% IDBI Bank stake

IDBI sale seen as privatization step

IDBI Bank's sale is a big deal because foreign takeovers are pretty rare in Indian banking.
The bank has bounced back from tough times and now has global investors lining up.
While day-to-day services for customers probably won't change much, the deal could bring new ideas and tech to the table, plus it marks a bold step in India's plan to open up more public sector companies to private players.