Yes Bank: SMBC gets approval from RBI to buy shares, keep an eye on the stock

News Topical, Digital Desk : There may be a movement in Yes Bank's stock in Monday's session. In fact, Yes Bank informed the stock market on Saturday that the Reserve Bank has approved Sumitomo Mitsui Banking Corporation i.e. SMBC to buy stake in the bank. According to the bank, RBI has clarified that even after this acquisition, SMBC will not be considered the promoter of Yes Bank. This approval was issued on August 22 and will be valid for one year.

What did the bank say?

In a letter sent to the stock market, the bank said that in the information sent to the stock market on May 9, 2025, they had said that SMBC has a proposal to buy 20 percent stake in the bank. Under this proposed deal, 13.19 percent stake will be bought from State Bank of India and the remaining 6.81 percent stake will be bought from seven other banks, including Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank and Kotak Mahindra Bank. Yes Bank said that in this episode, now the Reserve Bank has approved SMBC to buy up to 24.99 percent stake in the bank. The bank clarified that this approval is with many conditions, which include Banking Regulation Act 1949, FEMA 1999 and Reserve Bank guidelines. The bank also said that to take the proposed deal forward, the approval of the Competition Commission of India and other regulatory conditions will have to be met. 

How was the performance of the stock? In Friday's session, the stock closed at 19.3 with a decline of about one percent. The return of the stock in one year has been negative 21 percent. The stock recorded a level of 16 in March this year, which is the lowest level of the stock this year. The stock reached a level of 24.8, which is the highest level of the stock this year. 

Read More: SEBI issued consultation paper for changes in rules, what are the proposals