SBI Shows Interest In Buying 49% Stake In Crisis-Hit Yes Bank

The Reserve Bank of India (RBI) on Friday said the State Bank of India (SBI) has expressed willingness to invest in crisis-ridden Yes Bank. In a draft reconstruction scheme for the private lender, the central bank also said that the investor bank shall invest in Yes Bank to the extent that it will hold 49 per cent equity after the infusion. A day after the RBI suspended Yes Bank's board for a period of 30 days and imposed a withdrawal limit of Rs 50,000 on its account holders till April 3, Finance Minister Nirmala Sitharaman said that governance issue at Yes Bank is a matter of concern, adding that deposits and liabilities of the bank will not be affected. "It is not that the Yes Bank matter has come up yesterday or today; I would like to place it on record that RBI has been consistently monitoring situation since 2017," Finance Minister said. She has asked RBI to act so that due process of law takes course with a sense of urgency, Ms Sitharaman added.