The Globe and Mail reports in its Wednesday, July 15, edition that two sources say India has received revised bids from Fairfax Financial Holdings and Dubai's Emirates NBD for the sale of its majority interest in IDBI Bank, reviving a transaction stalled earlier this year over valuation expectations. A Reuters dispatch to The Globe reports that India's federal government and Life Insurance Corp. of India are selling a 60.7-per-cent interest in IDBI Bank, with completion expected in a month. The sale process was previously stalled after March bids by Fairfax and Emirates fell short of expectations. Sources say the revised bids are being evaluated, and a top panel of bureaucrats met on Monday to discuss the stake sale. The Indian government owns 45.48 per cent of IDBI Bank, while LIC holds 49.24 per cent. Fairfax is the front-runner to acquire the bank and is in conversation with the government while Emirates is not actively pursuing the deal after having acquired another Indian lender last year, say several sources. Reuters says details of the revised bids and valuation of the bank could not be immediately ascertained. The revised bids come amid growing foreign investor interest in India's financial sector.