A- A A+
Last Updated : Sep 22 2020 10:30PM     Screen Reader Access
News Highlights
National Education Policy will establish India as global education destination: PM Modi            Parliament passes several important Bills including Essential Commodities (Amendment) Bill & Companies (Amendment) Bill            Opposition misleading farmers on farm bills: Agriculture Minister N S Tomar            COVID-19 recovery rate improves to 80.86%            PM Modi to review preparedness of COVID response & management in six high focus States, UTs tomorrow           

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 22 (Sep) Midday News 22 (Sep) Evening News 22 (Sep) Hourly 22 (Sep) (1910hrs)
समाचार प्रभात 22 (Sep) दोपहर समाचार 22 (Sep) समाचार संध्या 22 (Sep) प्रति घंटा समाचार 22 (Sep) (2200hrs)
Khabarnama (Mor) 22 (Sep) Khabrein(Day) 22 (Sep) Khabrein(Eve) 22 (Sep)
Aaj Savere 22 (Sep) Parikrama 22 (Sep)

Listen Programs

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

    Country wide 12 (Mar) Surkhiyon Mein 22 (Sep) Charcha Ka Vishai Ha 11 (Mar) Vaad-Samvaad 17 (Mar) Money Talk 17 (Mar) Current Affairs 6 (Mar) Sanskrit Saptahiki 19 (Sep) North East Diary 20 (Sep)