RBI Greenlights SMBC's Stake Acquisition in Yes Bank
Yes Bank announced that the Reserve Bank of India has approved Sumitomo Mitsui Banking Corporation's acquisition of up to a 24.99% stake in the bank. This follows an earlier disclosure regarding SMBC's interest in a 20% stake. The transaction requires additional approvals and compliance with various regulations.
- Country:
- India
In a significant move, Yes Bank has confirmed that the Reserve Bank of India (RBI) has approved Japan-based Sumitomo Mitsui Banking Corporation (SMBC) to acquire a stake of up to 24.99% in the bank.
This development follows a disclosure made on May 9, 2025, in which Yes Bank announced SMBC's interest in acquiring a 20% share through a secondary stake purchase.
The acquisition is subject to compliance with various regulatory conditions, including RBI's guidelines, the Banking Regulation Act, and approval from the Competition Commission of India.
(With inputs from agencies.)
Advertisement
Google News