Idbi Enters Home Loans Via Tata Home Buy
The Industrial Development Bank of India (IDBI) is set to branch out into home financing after it signed a share purchase agreement (SPA) today to take over Tata Homefinance (THL), a subsidiary of Tata Finance Ltd.
TFL holds 63 per cent in the company, while the UK-based Abbey National holds the balance stake. The sale, which will also mark Abbey