India, Sept. 17 -- Sumitomo Mitsui Banking Corp. has decided to pick up more stake in Yes Bank Ltd., in a move that would consolidate the presence of Japan's second largest lender in India.

The additional 4.2% will be acquired from an affiliate of Carlyle Group for a total consideration of $349 million (about Rs.3,100 crore), the banking arm of Sumitomo Mitsui Financial Group said on Wednesday.

At present, SMBC has a 20% stake in Yes Bank, having made the purchases from State Bank of India and Kotak Mahindra Bank. It has the approval of the Reserve Bank of India, as well as the Competition Commission of India, to increase the shareholding to 24.99%.

State Bank of India, in a separate exchange filing on Wednesday, said it has received R...