Rabobank eyes own ops, cuts Yes Bank stake | india | Hindustan Times
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Rabobank eyes own ops, cuts Yes Bank stake

Rabobank moved a step closer to setting up its banking unit in India as it cut its stake in mid-sized Yes Bank for about $213 million (about Rs 1,000 crore), to meet regulatory requirements.

india Updated: Jun 23, 2010 00:29 IST

Rabobank moved a step closer to setting up its banking unit in India as it cut its stake in mid-sized Yes Bank for about $213 million (about Rs 1,000 crore), to meet regulatory requirements.

Rabobank plans to focus on agriculture, food, renewable energy and clean technology sectors as part of its banking foray in India.

“Rabobank, as a part of its overall business plan for India, is obliged under the regulations to reduce its shareholding in Yes Bank pending approval of its application for a full banking licence in India,” the Dutch company said in a statement. Citigroup is the sole advisor to Yes Bank share sale.