The RBI has granted Yes Bank’s MD & CEO, Prashant Kumar, a six-month extension until October 2025. This decision arrives amidst stake sales by original rescue investors, paving the way for Sumitomo Mitsui’s 20% acquisition. Despite this development, Yes Bank’s stock closed lower, trading below Sumitomo’s purchase price, with analysts suggesting a potential downside.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets