NEW DELHI/MUMBAI: Government has begun the exercise to decide on the process for sale of its stake in IDBI Bank and is looking to speed up the process months after rejecting bids that were below the reserve price.

India's government is nearing acceptance of Fairfax Financial's offer for IDBI Bank. Fairfax may slightly increase its per-share bid for the Mumbai-based lender. This potential…

India receives revised bids from Fairfax and Emirates NBD for IDBI Bank stake sale, expected to finalize within a month.