Congress Demands Judicial Probe into Dubious Foreign Takeover by Japan’s SMBC
Mumbai: The Indian National Congress has expressed deep concern and firm opposition to the proposed takeover of YES BANK by Japan’s Sumitomo Mitsui Banking Corporation (SMBC), calling it a direct threat to India’s banking sovereignty.
Congress leader and banking expert Vishwas Utagi said that this move represents a clear attempt to hand over control of a major Indian private bank to a foreign power. “This isn’t just a business transaction — it’s a matter of national economic security,” Utagi said.
According to media reports, SMBC has already invested ₹13,000 crore to acquire a 20% stake in YES BANK and is now preparing to invest an additional ₹30,000 crore to take majority control (51%). “This effectively amounts to a foreign corporate hijack of one of India’s key financial institutions,” Utagi stated.
Utagi said, if YES bank is healthy, then why is a foreign takeover been allowed? He said, YES bank’s current financial health negates any need for such a takeover: It’s CRAR is 18%, there are deposits of Rs 2.85 lakh crore and advances have been given worth Rs 2.48 lakh crore whereas the Investment in the bank is of Rs 86,000 crore.
“In such a sound financial position, why is the RBI permitting a foreign bank to assume control?” Utagi raised the question.
He further added, “What compulsion or hidden agenda is behind this move, when the bank is not under distress?”
Utagi reminded that YES BANK had been rescued in 2020 under the ‘Too Big to Fail’ principle by the RBI and the Central Government, with substantial investments from SBI and eight other banks — all using public money. SBI alone holds nearly 24% and has since led the bank’s operations.
“If YES BANK was worth saving with taxpayer money, why is it now being sold off to a Japanese bank without any public consultation?” Utagi asked. He added, “Is this a betrayal of public trust and taxpayers who saved the bank?
Utagi raised several questions about the silence and inaction of regulatory authorities: What is the role of the RBI as the banking regulator in safeguarding Indian institutions?, Why has the Ministry of Finance remained a mute spectator?, What has SEBI, as the market watchdog, done to protect shareholder interests?
A whistleblower’s forensic audit report covering 2014–2025 has entered the public domain. It reveals alarming irregularities in YES BANK’s operations, including: Balance sheet manipulation, Dubious sales of NPAs to ARCs and Misreporting of profits through non-accrued income
“This is a scam in the making,” Utagi said, adding that “the complete inaction on this forensic report by all concerned authorities smells of a deliberate cover-up.”
On behalf of the Congress Party, Utagi demanded the following: An immediate judicial probe into the YES BANK crisis and the foreign takeover, Public disclosure of the whistleblower’s forensic audit report, Full accountability from the RBI, SEBI, and Ministry of Finance, An urgent halt to the SMBC acquisition until all facts are brought to light.
Utagi warned that if the SMBC takeover is allowed, other Indian banks — including IDBI and even public sector banks — could be next in line for foreign takeovers.
“This isn’t just about YES BANK. It’s about protecting the backbone of our economy — our banking system,” Utagi said.
Utagi emphasised, “Congress strongly opposes the sale of Indian financial institutions to foreign entities under the false pretext of reform. We stand for the strengthening of domestic and public sector banks, not their surrender.
“The people of India and Parliament deserve answers,” Utagi asserted. Why was public money used to rescue YES BANK, only to sell it off later?, Why has no action been taken on the forensic audit findings?, Why is the Indian banking sector being exposed to foreign control?
“The Congress Party will raise this issue in Parliament and take it to the streets,” Utagi concluded. “We will not allow the financial interests of this nation to be compromised behind closed doors.”
It is in point oof fact a nice and helpful piece of information. I am happy that
you shared this helpful information with us.
Please keep us informed like this. Thanks for sharing. https://Glassi-greyhounds.mystrikingly.com/
专业构建与管理谷歌站群网络，助力品牌实现全域流量的强势增长。谷歌站群
Khám phá thế giới giải trí trực tuyến đỉnh cao tại MM88, nơi mang đến những trải nghiệm cá cược thể thao và casino sống động.
Tham gia cộng đồng game thủ tại Go88 để trải nghiệm các trò chơi bài, poker phổ biến nhất hiện nay.
Tham gia cộng đồng game thủ tại Go88 để trải nghiệm các trò chơi bài, poker phổ biến nhất hiện nay.
Khám phá thế giới giải trí trực tuyến đỉnh cao tại MM88, nơi mang đến những trải nghiệm cá cược thể thao và casino sống động.
Với giao diện mượt mà và ưu đãi hấp dẫn, MM88 là lựa chọn lý tưởng cho các tín đồ giải trí trực tuyến.
kuwin sở hữu kho game đa dạng từ slot đến trò chơi bài đổi thưởng, mang đến cho bạn những giây phút giải trí tuyệt vời.
kuwin sở hữu kho game đa dạng từ slot đến trò chơi bài đổi thưởng, mang đến cho bạn những giây phút giải trí tuyệt vời.
Dank der einzigartigen kaskadierenden Walzen von Skywind und niedlichen Grafiken ist dieser Fünf-Walzen-Slot das
perfekte Handyspiel. Dieses Betsoft-Spiel bietet elegante Grafiken und lebendige Visuals,
die etwas frischen Wind in das überarbeitete ägyptische Slot-Thema bringen. Wenn Sie Ihre gewohnte Routine
bei kostenlosen Slots aufpeppen möchten, lesen Sie weiter.
Außerdem kommen neue kostenlose Casino-Slots mit beeindruckenden Grafiken und Spezialeffekten.
Ja, du kannst kostenlose Spielautomaten auf iPhone-
und iPad-Geräten spielen, da alle Anbieter ihre Spiele in mobilen Formaten erstellen, die mit iOS-Geräten kompatibel
sind. Um kostenlose Spielautomaten auf einem mobilen Gerät zu spielen, besuche
die Seite mit einem mobilen Browser und wähle einen Spielautomaten, der dir gefällt.
Das Spielen kostenloser Spiele ermöglicht es dir nicht, echtes Geld zu gewinnen, aber es hilft dir, Erfahrung zu sammeln und für zukünftige Echtgeldspiele zu üben. Wir bieten eine umfangreiche Sammlung kostenloser Spielautomaten für Demospiele
an, ideal für deutsche Nutzer. Um Spielautomaten kostenlos zu spielen, besuche unsere Seite,
wähle deinen Lieblingsautomaten und beginne zu spielen.
Diese Spiele bieten den Komfort, ohne die physische Anwesenheit von Gegnern zu spielen.
References:
https://online-spielhallen.de/beste-deutsche-online-casinos-experten-test/
It is because every gambling website has its own payment options.
Many new gamblers and customers do not know how to gamble online.
Now you know everything about the Sky Crown casino login process.
And here is the SkyCrown casino login process!
It’s important to note that the responsibility lies with the player to ensure they comply with their
local laws. Yes, SkyCrown Casino is legal for Australians to access and play at.
At the end of the day, it’s just a game — not a solution, not a source
of income, and definitely not something to hide. Online
casinos are built for fun, not for making a living.
If you play responsibly, SkyCrown is a solid choice for Aussies like
me who enjoy a flutter now and then. At the end of the day, it’s gambling — it’s meant to be fun, not a job.
References:
https://blackcoin.co/hellspin-australia-where-the-action-never-cools-down/
Rocket Casino holds as many as 3 tournaments at a time at all times.
The more you play, the better rewards you can get. As always, potential identity verification may occur upon requesting
a withdrawal for larger sums.
Welcome to Casino Rocket Australia, your ultimate destination for an unparalleled online
gaming experience down under. Whether you’re looking to try your luck with online slots,
test your strategy in blackjack, or place a bet on your favorite sports team, Rocket Casino offers
everything you need for an unforgettable experience.
By constantly evolving and adapting to the needs of its players, Rocket Casino ensures that
every visit feels like a new adventure. Rocket Casino takes pride in providing top-tier customer service, which
is reflected in its high ratings and positive feedback from players.
The platform offers 24/7 customer support
through multiple channels, including live chat, email, and phone
support. Whether you’re making a deposit to start playing or cashing out after a big win, Rocket
Casino ensures a smooth and reliable banking experience.
This works well for detailed questions about your account or technical issues.
Our team responds quickly through live chat, email, and our comprehensive help centre.
We can check your account status and resolve issues quickly.
We require ID and address verification before processing your
first withdrawal. Account verification causes most Rocket Casino withdrawal
delays. We offer multiple withdrawal methods to suit your preferences.
References:
https://blackcoin.co/steps-casinos-should-take-to-improve-their-cyberspace-security/
online casino paypal einzahlung
References:
https://corerecruitingroup.com
online poker real money paypal
References:
jobboat.co.uk