The Congress on Sunday said foreign firms gradually being allowed to acquire Indian banks was ''imprudent'' as it poses substantial risks and recalled that the Jan Sangh had criticised then prime minister Indira Gandhi for not nationalising 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 per cent stake in RBL Bank for Rs 26,853 crore -- the biggest ever financial sector deal in value terms.

''Foreign firms are gradually being allowed to acquire Indian banks. These imprudent moves pose substantial risks,'' Ramesh said on X.

First, Laxmi Vilas Bank was acquired by Singapore's DBS Group and the Catholic Syrian Bank was acquired

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