Yes Bank acquisition: RBI approves SMBC to buy 24.99% stake; CCI nod still pending

The Reserve Bank of India (RBI) has approved Sumitomo Mitsui Banking Corporation's (SMBC) plan to acquire up to 24.99% stake in Yes Bank. This follows Yes Bank's earlier announcement regarding SMBC's intention to purchase a 20% holding. The RBI's approval, valid for one year, is subject to certain conditions, including compliance with banking regulations and other applicable laws.

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