New Delhi, Oct 14 (UNI) The Cabinet Committee on Economic Affairs on Wednesday approved the sale of

New Delhi, Oct 14 (UNI) The Cabinet Committee on Economic Affairs on Wednesday approved the sale of a 60.72 per cent stake in IDBI Bank Ltd to 10955230 Canada Inc., a subsidiary of Fairfax Financial Holdings Ltd, for Rs 52,878.08 crore, marking a major step towards the lender's privatisation. The transaction involves the sale of the government's 30.48 per cent holding and the Life Insurance Corporation of India's (LIC) 30.24 per cent stake. Following the sale, the government will retain 15 per cent and LIC 19 per cent in the bank. Announcing the decision after the Cabinet meeting, Information and…