The Toronto-based company led by Prem Watsa is reportedly a front-runner in negotiations to buy a majority stake in IDBI Bank, as the Indian government tries to offload some of its ownership, unnamed sources told Bloomberg. (Bloomberg)

Talking point: Bloomberg estimates that if the deal materializes, it could be the biggest foreign investment in India’s banking sector. While Fairfax makes most of its money from insurance, it has copied firms like Berkshire Hathaway in taking bets on other industries, including a recent stake in Under Armour and long-term investment in BlackBerry. Several other bidders are reportedly eyeing the stake in IDBI Bank, which is mounting a turnaround effort from some bad loans. Fairfax’s bid comes amid hopes that Prime Minister Mark Carney’s visit to India this week will bolster economic ties between the two countries. Fairfax rival Manulife expanded its business in India late last year.