A- A A+
Last Updated : Nov 25 2020 10:46AM     Screen Reader Access
News Highlights
PM to virtually attend celebration of Centennial Foundation Day of University of Lucknow            National COVID-19 recovery rate improves to 93.76 pct            President Kovind to inaugurate All India Presiding Officers’ Conference in Kevadia, Gujarat            PM Modi to virtually attend celebration of Centennial Foundation Day of University of Lucknow            “Nivar” in Bay of Bengal intensifies into severe cyclonic storm; 7 districts in Tamil Nadu & Puducherry expected to get extremely heavy rainfall           

Business News

Mar 12, 2020
7:08PM

State Bank of India to buy shares worth 7,250 crore rupees of cash-strapped Yes Bank

@TheOfficialSBI
The State Bank of India today said that it will buy shares worth 7,250 crore rupees of the cash-strapped Yes Bank in accordance with the draft reconstruction scheme envisaged by the Reserve Bank of India. In a regulatory filing, SBI said, its board has permitted the purchase of the private lender's shares at a price of 10 rupees per share subject to all regulatory approvals. SBI’s shareholding in Yes Bank will remain within 49 percent of the paid-up capital.

According to RBI’s reconstruction scheme, the strategic investor was not only supposed to pick up 49 percent stake but assure that the holding will not fall below 26 percent for a minimum period of three years from the date of capital infusion.

The scheme was announced a day after RBI imposed a moratorium on the Yes Bank, restricting withdrawals to 50,000 rupees till the 3rd of April, while also superseding the bank’s board.


Live Twitter Feed

Listen News

Morning News 25 (Nov) Midday News 24 (Nov) Evening News 24 (Nov) Hourly 25 (Nov) (1010hrs)
समाचार प्रभात 25 (Nov) दोपहर समाचार 24 (Nov) समाचार संध्या 24 (Nov) प्रति घंटा समाचार 25 (Nov) (1000hrs)
Khabarnama (Mor) 25 (Nov) Khabrein(Day) 24 (Nov) Khabrein(Eve) 24 (Nov)
Aaj Savere 25 (Nov) Parikrama 24 (Nov)

Listen Programs

Market Mantra 24 (Nov) Samayki 9 (Aug) Sports Scan 24 (Nov) Spotlight/News Analysis 24 (Nov) Employment News 24 (Nov) World News 24 (Nov) Samachar Darshan 22 (Mar) Radio Newsreel 21 (Mar)
    Public Speak

    Country wide 12 (Mar) Surkhiyon Mein 24 (Nov) Charcha Ka Vishai Ha 11 (Mar) Vaad-Samvaad 17 (Mar) Money Talk 17 (Mar) Current Affairs 6 (Mar) Sanskrit Saptahiki 21 (Nov) North East Diary 19 (Nov)