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In 2019, LIC invested ₹21,624 crore to save IDBI Bank from collapsing. The reason wasn't just an investment; two successive LIC chairmen had stated that IDBI Bank was their number one bancassurance partner—meaning the most trusted bank for selling LIC policies. ​Now, look at the twist in the story. ​Alongside its acquisition of IDBI Bank, Fairfax has announced that it will route its entire stake in Go Digit Life Insurance and Go Digit General Insurance through IDBI Bank. Prem Watsa himself has stated that IDBI Bank will now sell Digit's insurance products. ​This means the very bank rescued with LIC policyholders' money will now see its branches turned into a counter for LIC’s competitor. And LIC will remain seated as a 19% "minority" shareholder in that same bank, watching it happen. ​A few straightforward questions arise: ​If Digit is injected into IDBI at "market price," what does IDBI give in return? If new shares are issued, what happens to the government’s 15% stake and LIC’s 19%? ​Before approving this sale, did LIC calculate the impact on its bancassurance business? Is that calculation available to the policyholders? ​Kautilya wrote in the Arthashastra: Koshapurvah sarvarambhah (All undertakings depend first on the treasury). Therefore, protect the treasury first. LIC’s treasury consists of the savings of millions of ordinary families. ​No binding agreement has been signed yet. Approvals from the RBI, SEBI, and IRDAI are still pending. ​Answers can—and should—be demanded now. #SaveIDBIBank #IDBINotForSale