IDBI Bank has gone through crucial stages in the last few years, since May 2017 when the Reserve Bank of India incorporated the bank under the Prompt Corrective Action Framework because of its concern about financial health, that include asset quality and losses. In 2019, LIC subsequently acquired a stake in the bank. As per the Ministry of Finance, the Indian government will retain a 15% stake, while Life Insurance Corporation of India will retain 19% after the proposed transaction.

It is a Canada-based financial service and investment holding company, which is associated with investor Prem Watsa. The products of Fairfax are insurance and investment banking.

One of the important questions following a major banking ownership change is whether existing customers need to take immediate action. A change in shareholding does not indicate that deposits automatically become invalid. Customers should continue to follow official communication from the bank regarding their accounts, deposits, and banking service. There is no basis to assume that the ownership announcement alone requires customers to withdraw their money or close their account.

In case of fixed deposit interest rate, the announcement does not automatically set a new fixed deposit rate. Customers need to check IDBI Bank's official interest rate and all the policies. On the other hand, borrowers need to continue making repayments according to their existing loan agreement until the bank officially communicates a change.