India's competition authority announced on September 2 that it has approved Japan's Sumitomo Mitsui Bank transaction to acquire shares in India's Yes Bank. Sumitomo Mitsui Bank reached an agreement in May this year to acquire 20% of Yes Bank's shares for 1.6 billion US dollars, making this the largest cross-border merger and acquisition deal in the Indian financial sector.

India's competition authority announced on September 2 that it has approved Japan's Sumitomo Mitsui Bank transaction to acquire shares in India's Yes Bank. Sumitomo Mitsui Bank reached an agreement in May this year to acquire 20% of Yes Bank's shares for 1.6 billion US dollars, making this the largest cross-border merger and acquisition deal in the Indian financial sector.