SBI looking at buying 49% stake in YES BANK

Bhubaneswar: SBI looking at buying 49% stake in YES BANK .
‘Rs 2450 crore is needed to buy 49% stake in YES BANK ,’ says SBI Chairman Rajnish Kumar on ‘ YesBank Collapse’. ‘ Our legal team will look into the plan. There is a possibility of buying 49% stake in YES BANK. Will file reply with RBI on Monday,’ says SBI Chairman Rajnish Kumar. Plan has been received by SBI and the legal team is working on it. We had informed through the stock exchange that SBI board has given in-principle approval of exploring possibility of picking up a stake of upto 49% in #YesBank: SBI briefing on YesBank restructuring.

Total quantum of investment in YESBANK at Rs 2,450crsays SBI chairman. Depositors’ money is not at all at risk. It is a matter of a few days of inconvenience due to the 50,000 withdrawal limit says SBI chief.