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SBI To Invest Rs. 7250 Crore In Yes Bank
On Thursday, the board of SBI has approved buying shares of Yes Bank (725 crore shares for Rs. 10 per share). Last Thursday, given the distressed financial situation of the latter, the RBI has placed a moratium on it that was to last till April 3, 2020.
But thereafter, the government has been working on rescuing the country's fourth largest private sector lender.
The bank is also slated to announce its third quarter result for the FY20 on March 14. As the banker was busy with fund raising talks, it deferred its results for the first time.
Also, on the sidelines, the administrator of the Yes Bank, Kumar has assured depositors and investors in the bank that moratorium over the bank could be lifted as early as this week.
GoodReturns.in
Story first published: Thursday, March 12, 2020, 16:15 [IST]
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