Congress seeks JPC probe into IDBI Bank sale, alleges valuation irregularities
The party questions the use of bank’s funds by Fairfax to finance acquisition; demands disclosure of valuation reports
The Congress party has demanded an immediate halt to the proposed sale of IDBI Bank to Fairfax Financial Holdings and a Joint Parliamentary Committee (JPC) probe into the transaction. The party alleges that the government manipulated the bank's valuation and that the foreign buyer would use the bank's own funds to finance the acquisition. Rahul Gandhi questioned the transaction, stating that public banks should not be treated as assets to be sold but as "tools to build the nation."
Brief written by urgent.news from The Hindu's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
