Fairfax Proposes To Transfer Go Digit Stake To IDBI Bank

Canadian investor Fairfax Financial Holdings has proposed transferring all its interests in insurtech company Go Digit General Insurance and its affiliate Go Digit Life Insurance to IDBI Bank. Separately, Fairfax India Holdings has proposed transferring its entire stake in IIFL Capital Services to the lender. The proposals follow the Indian government’s selection of a wholly owned Fairfax Financial subsidiary as the “strategic buyer” for a 60.72% stake in IDBI Bank.