Question
How much stake has the RBI approved Sumitomo Mitsui
Banking Corporation (SMBC) to acquire in Yes Bank?ÂSolution
The RBI approved Sumitomo Mitsui Banking Corporation (SMBC) of Japan to acquire up to 24.99% stake in Yes Bank. This acquisition strengthens Indo-Japan banking relations and boosts capital adequacy for Yes Bank. The approval is significant as foreign investments above 25% require government clearance.Â
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