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Fairfax Financial reportedly may get up to two years to align Indian bank stakes for IDBI Bank bid, a deal valued over $5 billion
The Canadian firm is considered a leading contender for the Indian government's stake in IDBI Bank. Reserve Bank of India (RBI) rules do not allow one entity to own and run two separate banks, and Fairfax currently holds about 40% of CSB Bank, a smaller lender. Sources cited by Reuters suggest Fairfax could be given up to two years to either exit its CSB position or combine CSB with IDBI Bank.
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