SBI chairman
SBI Chairman Rajnish Kumar on Yes Bank crisis Saturday said that a plan has been received by SBI and the legal team is working on the plan. We had informed through the stock exchange that SBI board has given in-principle approval of exploring the possibility of picking up a stake of up to 49% in the crisis-hit bank.
Addressing a presser, SBI Chairman said, "There are many potential investors who have approached us after seeing the scheme of reconstruction for Yes Bank. Our investment and legal teams are looking into the draft scheme of reconstruction for Yes Bank."
The total quantum of investment in Yes Bank is at Rs 2,450 crore, said SBI chairman assuring that depositors’ money not at risk at all.
On Friday, the RBI announced a draft scheme of reconstruction for cash-starved Yes Bank.
In its draft 'Yes Bank Ltd. Reconstruction Scheme, 2020', RBI said the strategic investor bank will have to pick up 49 per cent stake and it cannot reduce holding to below 26 per cent before three years from the date of capital infusion.
The draft came a day after the RBI imposed a moratorium on Yes Bank, restricting withdrawals to Rs 50,000 per depositor till April 3.
The RBI also superseded the board of the private sector lender, which is now being headed by former deputy managing director and CFO of SBI Prashant Kumar.
(With agency inputs)
ALSO READ | Yes Bank crisis: What its customers should know
ALSO READ | PhonePe restores card, wallet payments on mobile app after Yes Bank crisis
