LatestLegal Updates 12 November 2026
SMBC Plans India Ops Consolidation Under Yes Bank by FY29
SMBC has informed the Reserve Bank of India that its entire Indian banking business will be merged into Yes Bank by the fiscal year 2029. The move follows the October Supreme Court ruling on the Yes Bank asset‑transfer scheme and aims to streamline operations and meet regulatory expectations.
SMBC told the Reserve Bank of India (RBI) that its Indian operations will be consolidated under Yes Bank by FY29. The announcement comes after the October Supreme Court verdict on the Yes Bank asset‑transfer scheme.
- Consolidation target: FY29
- Goal: simplify structure and comply with RBI expectations
- Impact: SMBC’s Indian banking activities will operate as part of Yes Bank’s network
For full details see the original report on Moneycontrol.
Need help understanding this update?
Connect with our domain experts instantly via WhatsApp for customized legal guidance.