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‘Substantial risks’: Cong flags concerns on foreign firms acquiring banks
The Morning Standard
|October 20, 2025
TAKING a swipe at the Modi government’s economic policy, the Congress on Sunday said foreign firms gradually being allowed to acquire Indian banks was “imprudent” as it poses substantial risks.
The grand old party also reminded the BJP that the Jan Sangh had criticized then Prime Minister Indira Gandhi for not nationalizing foreign banks in July 1969.
Congress general secretary in-charge communications Jairam Ramesh’s assertion came after Emirates NBD Bank, the second largest in the UAE, expressed interest in acquiring a majority 60% stake in RBL Bank for ₹26,853 crore — the biggest ever financial sector deal in value terms.
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