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flag Foreign bank takeovers in India spark concern over risks, despite claims of expanded financial inclusion.

flag Foreign investment in Indian banks is rising, with recent acquisitions by firms from Singapore, Canada, Japan, and the UAE, sparking concern from Congress leader Jairam Ramesh, who warned of "substantial risks." flag He cited the takeover of Laxmi Vilas Bank by DBS, Catholic Syrian Bank by Fairfax, Yes Bank by Sumitomo Mitsui, and the expected privatization of IDBI Bank. flag Ramesh referenced past political debates over foreign bank control, contrasting with Prime Minister Modi’s claim that reducing state interference has expanded financial inclusion, noting a significant rise in bank account ownership since 2014.

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