Japan's Sumitomo gets RBI nod for 25% stake in Yes Bank
Yes Bank Ltd on Saturday announced that Japan’s Sumitomo Mitsui Banking Corporation has received approval from Reserve Bank of India to acquire up to 24.99% stake in the company. In an exchange filing, Yes Bank said that RBI has clarified that SMBC will not be classified as a promoter of Yes Bank post-acquisition. The approval is valid for one year.