India, Sept. 3 -- Fair trade regulator CCI on Tuesday cleared Japan's Sumitomo Mitsui Banking Corporation's proposal to acquire up to 24.99 per cent stake in private sector lender Yes Bank. SMBC is a wholly-owned subsidiary of Sumitomo Mitsui Financial Group, Inc. (SMFG). It is among the leading foreign banks in India, and SMFG's wholly-owned subsidiary, SMFG India Credit Company, is among the largest diversified NBFCs in India. "The proposed combination relates to the acquisition of share capital and voting rights of Yes Bank by Sumitomo Mitsui Banking Corporation (SMBC)," the Competition Commission of India (CCI) said in a release. SMFG is the second-largest banking group in Japan, with total assets of USD 2 trillion as of December 2024, ...