This comes after the insurance regulator, earlier this month, relaxed the five-year lock-in rule for Fairfax's stake in ICICI Lombard, which was scheduled to end in March 2021
It has been a difficult year for Fairfax on its investments across geographies, said Prem Watsa
Lack of procedures, systems and awareness among the departments has been the reasons for the delay
RBI for the first time has allowed a bank to sell its majority stake to a single private investor
An agreement could be announced in the next few weeks, according to one of the people