Current Affairs - Business - Discussion

The State Bank of India (SBI) sold a 13.18% stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for ₹8,889 crore, marking one of the largest cross border deals in India’s banking sector. This transaction highlights growing global investor confidence in India’s financial reforms and the strengthening of strategic banking ties between India and Japan. The sale, which involved 413.44 crore equity shares, was completed after approvals from the RBI, CCI, and SBI’s board. Importantly, SBI retains a minority stake in Yes Bank, while SMBC now has clearance to raise its stake further, up to 24.99%.