RBI Cancels T-Bill Auctions on Sep 18 and 25, Mandates Approval for Cross-Border Mergers, Yes Bank Stake Sale Faces Hurdle

The Reserve Bank of India (RBI) has announced the cancellation of auctions for Government of India Treasury Bills scheduled for September 18 and September 25, 2024. Additionally, the RBI has mandated approval for cross-border mergers starting from September 17, 2024. In a separate development, 13 Non-Banking Financial Companies (NBFCs) have surrendered their certificates of registration to the RBI, and the RBI has also canceled the certificates of registration for four other NBFCs. Meanwhile, Yes Bank's stake sale has encountered a hurdle as the RBI is reportedly uncomfortable with a foreign entity owning 51% of the bank.