INSUBCONTINENT EXCLUSIVE:
SBI Chairman Rajnish Kumar on Saturday said the bank has received the draft scheme of reconstruction for crisis-hit Yes Bank
Bank officials are doing due diligence of the draft scheme, he added
"We have received draft scheme of reconstruction for Yes Bank
Our investment and legal team is doing due diligence," Kumar told reporters here
He also said many potential investors have approached SBI after seeing the draft scheme
Kumar further said the interest of shareholders and depositors will not be compromised
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The RBI also superseded the board of the private sector lender, which is now being headed by former deputy managing director and CFO of SBI