INSUBCONTINENT EXCLUSIVE:
State Bank of India (SBI) on Saturday said it has time till Monday to respond back to the Reserve Bank of India (RBI) on the draft scheme
proposed by RBI for bringing the bank back to health.
A day after superseding the Rana Kapoor-promoted Yes Bank board and capped cash
SBI will bring in Rs 2,500 crore for a 49% stake in the crisis-ridden private sector bank.
Kumar said SBI will try to implement the
resolution plan before the RBI deadline
There is no question of YES Bank's merger with the state-run bank, he said
Buying a 49% stake in Yes Bank would involve an investment of Rs 2,400 crore, that is if it decides to go alone
26% stake in Yes Bank will depend on the investment involved
We are also examining the interest received from some other investors
manifold to Rs 5,000 crore from Rs 800 crore
Sources in the government said the RBI has decided against merging Yes with SBI because it would have put pressure on the balance sheet of
protected.
The scheme proposes full repayment of all deposits, dilution of equity, and write-off of Rs 10,800 crore of additional tier one
Kumar refused to comment on the 81 bonds being written off in the draft scheme.