Indian private sector lender Yes Bank is planing to buy 1% stake in the United Stock Exchange (USE), which is expected to go live with currency trading this month.
In July 2010 ICICI Bank bought 1.33% stake in USE, in which Bombay Stock Exchange holds 15% stake.
If the Yes Bank deal materializes, USE, which is still awaiting a formal approval from the Reserve Bank of India, will have a total of 27 banks as its shareholders.
ICICI Bank, HDFC Bank, Axis Bank, Federal Bank and J&K Bank are the other private sector banks who hold stake in USE, apart from 21public sector banks.