Japan

During an official visit to Japan, Punjab Finance Minister Harpal Singh Cheema and Industries Minister Anmol Gagan Mann positioned Punjab as a high-potential investment hub for global corporations seeking stable, growth-oriented markets in India. Mann highlighted the state’s expanding industrial landscape, improved infrastructure, and streamlined regulatory framework as core pillars attracting foreign capital. The delegation emphasized the state’s emerging strength in manufacturing, agro-processing, electric mobility, and renewable energy.

Sumitomo Mitsui Banking Corporation (SMBC), one of Japan’s leading financial institutions, has finalized the acquisition of a 20% equity stake in Yes Bank. The move marks a significant step in deepening bilateral financial cooperation between India and Japan while strengthening Yes Bank’s capital base and growth prospects. The strategic partnership is expected to provide Yes Bank with enhanced global expertise, improved governance standards, and greater access to international markets, while SMBC gains a stronger foothold in one of the world’s fastest-growing banking sectors.

In a landmark development in India’s banking sector, the State Bank of India (SBI) has sold a 13.18% stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for Rs. 8,889 crore. The divestment, executed at Rs. 21.50 per share, transfers 413.44 crore shares to SMBC, which now emerges as the single-largest shareholder in Yes Bank. With this move, SBI trims its holding to 10.8%, signaling a strategic shift away from its earlier rescue role in the private lender.