Overview

• RBI granted a six-month extension to Prashant Kumar as Yes Bank’s MD & CEO effective October 6, 2025, or until his successor assumes the role.
• Yes Bank has engaged global recruitment firms to conduct a search for its next chief executive.
• In May, Japan’s Sumitomo Mitsui Banking Corp agreed to acquire a 20% stake in Yes Bank for Rs 13,483 crore through a secondary purchase.
• State Bank of India will divest 13.19% for Rs 8,889 crore and other consortium lenders will sell 6.81% for Rs 4,594 crore to SMBC.
• Sumitomo Mitsui’s investment remains subject to approval from the RBI and other regulatory authorities.