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.

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.

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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.