The Reserve Bank of India (RBI) is reportedly favouring strategic owners over short-term financial investors for Yes Bank. Mitsubishi UFJ Financial Group, SMBC, and Emirates NBD are among the potential contenders for a majority stake, as per a report from ET Now.
What Happened: The RBI is preparing to provide feedback on proposals from potential investors. The central bank is keeping a close watch on the ongoing discussions around the potential stake sale. The State Bank of India (SBI), which holds approximately 24% of YES Bank, will need RBI approval for potential buyers of its stake.
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Other key shareholders of YES Bank include the Life Insurance Corporation of India (LIC) with around 4%, HDFC Bank with 2.75%, ICICI Bank with 2.4%, Kotak Mahindra Bank with 1.2%, and Axis Bank with 1%.
Earlier today, Yes Bank’s shares were upbeat after the bank informed the exchanges of the receipt of ₹454 crore pertaining to the sale of the NPA portfolio to JC Flowers Asset Reconstruction Company (JC Flowers ARC).
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