Current Affairs - Business - Discussion

SBI sold 13.19% of its equity in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for ₹8,888.97 crore at a share price of ₹21.50. This transaction was approved by SBI’s Executive Committee and is expected to be completed within 12 months. As a result of this divestment, SBI’s holding in Yes Bank declined from 23.97% to around 10.78%. The deal also significantly increased the return on SBI’s investment in Yes Bank, highlighting a strategic and financially beneficial move for the bank.