Rbi Greenlights Smbc Plan To Buy Up To 25 In Yes Bank

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business rbi greenlights smbc plan to buy up to 25 in yes bank

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.

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