Mumbai: Private lender Yes Bank on Wednesday announced the Reserve Bank's approval for amendments in its Articles of Association.
The approval is significant and follows Sumitomi Mitsui Banking Corporation's plans of acquiring a stake held by State Bank of India in Yes Bank.
Previously it had been reported that SMBC was likely to nominate two directors while SBI could depute one nominee director to the board of Yes Bank.
In May 2025, Yes bank had announced SMBC's intentions to acquire a 20 percent stake. The stake would have pared down SBI's ownership in Yes Bank by 13.19% while the remainder would be procured from an assortment of other private lenders.
On Wednesday stocks of Yes Bank traded up by 2.11 percent to quote 20.78 per share while shares of SBI fetched 818.30 - up by 1.16 percent in the session.
