Overview

• The central bank authorised SMBC to acquire up to 24.99% of paid-up capital and voting rights, with the approval valid for one year from August 22, 2025.
• The plan envisages purchasing 13.19% from State Bank of India and 6.81% from seven lenders including HDFC Bank, ICICI Bank, Axis Bank, Bandhan Bank, Federal Bank, IDFC First Bank and Kotak Mahindra Bank.
• Completion remains contingent on clearance from the Competition Commission of India and on meeting customary conditions outlined in the May agreements.
• RBI clarified SMBC will not be treated as a promoter of Yes Bank, while the investor can nominate two directors without day-to-day control.
• SMBC earlier agreed to a Rs 13,482 crore stake purchase described as the largest foreign investment in an Indian bank, with India’s 26% voting cap defining the ceiling for voting rights.