The Reserve Bank of India (RBI) today placed in public domain a draft scheme for reconstruction of Yes Bank.
State Bank of India has expressed its willingness to make investment in Yes Bank and participate in its reconstruction scheme. SBI can invest for up to 49 per cent stake for nearly Rs 2,450 crore.The central bank had invited suggestions and comments from members of public, including the banks’ shareholders, depositors and creditors on the draft scheme. Sug ..
* All employees of the reconstructed Yes Bank will continue with the same pay for at least one year.
* RBI plans to alter the authorised capital for the reconstituted bank to Rs 5,000 crore and number of equity shares will also be altered to 24,000 crore of Rs 2 each aggregating to Rs 48,000 crore.
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* It has been proposed that the investor bank will not reduce its holding in the new bank below 26 per cent before completion of three years from the date of infusion of the capital .
SOURCE:ECONOMIC TIMES
