Overview

• Yes Bank disclosed that the RBI’s approval letter is dated August 22, 2025 and remains valid for one year.
• SMBC’s stake will be acquired via the May secondary sale of 13.19% from SBI and 6.81% from seven banks, a deal valued at about $1.6 billion and billed as the largest foreign investment in an Indian bank.
• The central bank clarified that SMBC will not be treated as a promoter and that Yes Bank continues to have no promoters, while SMBC can nominate two directors to the board.
• Closing still requires clearance from the Competition Commission of India and satisfaction of customary conditions under the signed agreements.
• The higher cap follows reports in July that SMBC sought an additional 4.9% beyond the initial 20% plan, aligning the approval with a potential 24.99% holding.