Kotak to buy IDBI Bank? RBI identifies eligible bidders for state bank's stake sale

The Reserve Bank of India has approved Fairfax Financial Holdings, Emirates NBD, and Kotak Mahindra Bank as bidders for a majority stake in IDBI Bank. The Indian government and Life Insurance Corp plan to sell 60.7%. Approved bidders will receive access to IDBI Bank's private data after evaluation. Bid submissions are expected by the end of the fiscal year.