Congress Questions Yes Bank Takeover by Japanese Lender

Yes Bank, a private bank in India, is being taken over by a Japanese financial company called Sumitomo Mitsui Banking Corporation.

A Congress leader named Vishwas Utagi is concerned because he thinks this is a threat to India's control over its own banks.

He wants the government to investigate the deal.

He is worried because the Japanese company has already invested a lot of money and plans to invest more to gain control.

Yes Bank had faced problems in the past and was rescued by other Indian banks in 2020.

Now, there are concerns about a foreign bank taking over an Indian bank.