This approval will remain valid for one year.
FinTech BizNews Service
Mumbai, August 22, 2025: The Reserve Bank of India (RBI), through its letter dated 22nd August 2025, has approved SMBC’s proposal to acquire up to 24.99% of YES BANK’s paid-up share capital/voting rights. This approval will remain valid for one year. RBI has also clarified that this acquisition will not result in SMBC being classified as a promoter of the Bank.
The approval is subject to compliance with the Banking Regulation Act, 1949, RBI’s Master Directions and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies (issued on 16th January 2023 and updated from time to time), the Foreign Exchange Management Act, 1999, and other applicable laws and conditions, including lock-in requirements and RBI’s discretion on any subsequent transactions.
