The Reserve Bank of India has approved Sumitomo Mitsui Banking Corporation's (SMBC) application to acquire up to 24.99% stake in Yes Bank, clarifying that SMBC will not be classified as a promoter. SMBC is set to initially acquire a 20% stake from existing investors, including SBI and other private banks, valued at ₹13,500 crore.
from Banking/Finance-Industry-Economic Times https://ift.tt/lbNi0Rn
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