Yes Bank Stake Sale Sparks Acquisition Race Among Sumitomo, SMBC, RBI, SBI

13 Aug 2024 CW Team

The ongoing sale of a stake in Yes Bank has triggered intense competition among several major financial entities, including Sumitomo Mitsui Banking Corporation (SMBC), the Reserve Bank of India (RBI), and the State Bank of India (SBI). This high-stakes race reflects the significant interest in Yes Bank, which has been a key player in India's banking sector.

Sumitomo Mitsui Banking Corporation is reportedly vying to secure a substantial stake, aiming to enhance its presence in the Indian market. Meanwhile, the RBI, as a regulatory body, is closely monitoring the transaction to ensure it aligns with the financial stability and regulatory frameworks.

The SBI, already a major stakeholder in Yes Bank, is also actively involved in the acquisition discussions, potentially seeking to increase its influence within the bank. This move comes as part of SBI's broader strategy to consolidate its position in the banking sector.

The outcome of this competitive acquisition race could reshape Yes Bank's ownership structure and influence its strategic direction. As these key players continue their negotiations, the final resolution will likely have significant implications for Yes Bank's future and the broader banking landscape in India.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..