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via livemint.comPolitics

IDBI Bank stake sale: employees protest against Fairfax deal

FROM THE WIRE · LIVEMINT.COM

The proposed transaction, approved by the Indian government on October 14, involves the sale of a combined 60.72% stake held by the Centre and Life Insurance Corporation of India (LIC) to Fairfax.

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralPrivatization of an Indian bank with labour opposition, relevant to the local banking sector.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01The Indian government approved the transaction on October 14.
  2. 02A combined 60.72% stake held by the Centre and LIC is being sold.
  3. 03Employees are demanding a rollback of the privatisation.

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