The sale of a combined 60.72% stake in IDBI Bank, held by the Government of India and LIC, to M/s 10955230 Canada Inc., whose parent is Fairfax Financial Holdings, awaits completion after the Cabinet Committee on Economic Affairs (CCEA) approved the strategic disinvestment. IDBI Bank's Q1 FY27 presentation for the quarter ended June 2026 showed total deposits of ₹3,25,757 crore, up 10% year-on-year. Experts say there is no immediate reason for depositors to worry: repayment obligations do not change, RBI oversight continues, and deposits are insured by DICGC up to ₹5 lakh per depositor per bank. Existing FDs keep their contracted rates, while rates on new deposits and savings account terms, such as minimum balances and charges, are more likely to change. Experts advise against withdrawing or closing FDs because of the sale and recommend watching official updates; reports indicate retrenchment of the roughly 16,000 employees is restricted for at least one year after new management takes control.
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Original headline: IDBI Bank 60 . 72 % stake sale to Canada Fairfax : Should FD holders and savings account customers worry ? Experts decode
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