<p>A strategic investor like SBI will have to pick up 49 per cent stake in Yes Bank, RBI's draft scheme of reconstruction for the crisis-hit lender said on Friday.</p>

<p>The central bank added that SBI is already willing&nbsp;in picking up a stake in Yes Bank.&nbsp;</p>

<p><strong>Also read:&nbsp;<a href="https://www.wionews.com/india-news/yes-bank-crisis-will-not-let-any-institution-to-fall-says-fm-nirmala-sitharaman-284776">Yes Bank crisis: Will not let any institution to fall, says FM Nirmala Sitharaman</a></strong></p>

<p>As per the draft: 'Yes Bank Ltd. Reconstruction Scheme, 2020', the RBI said the strategic investor bank will have to pick up 49 per cent stake and it cannot reduce holding to below 26 per cent before three years from the date of capital infusion.&nbsp;</p>

<p><strong>Also read:&nbsp;<a href="https://www.wionews.com/business-economy/sensex-closes-over-890-points-down-over-yes-bank-coronavirus-fears-284748">Sensex closes over 890 points down over Yes Bank, coronavirus fears</a></strong></p>

<p>"The investor bank shall agree to invest in the equity of the Reconstructed bank to the extent that post-infusion it holds 49 per cent shareholding in the Reconstructed bank at a price not less than Rs 10 (Face value of Rs 2) and premium of Rs 8," the draft said.&nbsp;</p>

<p>The RBI also said that the comments from the stakeholders on the draft are open till March 9.&nbsp;</p>

<p>The draft comes a day after the RBI imposed a moratorium on the lender, restricting withdrawals to Rs 50,000 per depositor till April 3.</p>

<p>Earlier, Union Finance Minister Nirmala Sitharaman addressed a press conference where she said that she would not let any institution to fall off the cliff.&nbsp;</p>

<p>Sitharaman also said that the RBI has been asked to look into what went wrong with Yes Bank and fix individual responsibilities.</p>

<p>RBI Governor Shaktikanta Das today said that resolution efforts are aimed at maintaining "stability and resilience" in the Indian financial sector and the challenges will be overcome "very swiftly".</p>

<p>On BSE, Yes Banks stocks plunged by over 80 per cent during intra-day trade, before closing &nbsp;56.04 per cent lower at Rs 16.20.</p>

<p><em>(With PTI inputs)</em></p>


A strategic investor like SBI will have to pick up 49 per cent stake in Yes Bank, RBI's draft scheme of reconstruction for the crisis-hit lender said on Friday. The central bank added that SBI is already willing in picking up a stake in Yes Bank.

A strategic investor like SBI will have to pick up 49 per cent stake in Yes Bank, RBI's draft scheme of reconstruction for the crisis-hit lender said on Friday. The central bank added that SBI is already willing in picking up a stake in Yes Bank. Also read: Yes Bank crisis: Will not let any institution to fall, says FM Nirmala Sitharaman As per the draft: 'Yes Bank Ltd. Reconstruction Scheme, 2020', the RBI said the strategic investor bank will have to pick up 49 per cent stake and it cannot reduce holding to below 26 per cent before three years from the date of capital infusion. Also read: Sensex closes over 890 points down over Yes Bank, coronavirus fears "The investor bank shall agree to invest in the equity of the Reconstructed bank to the extent that post-infusion it holds 49 per cent shareholding in the Reconstructed bank at a price not less than Rs 10 (Face value of Rs 2) and premium of Rs 8," the draft said. The RBI also said that the comments from the stakeholders on the draft are open till March 9. The draft comes a day after the RBI imposed a moratorium on the lender, restricting withdrawals to Rs 50,000 per depositor till April 3. Earlier, Union Finance Minister Nirmala Sitharaman addressed a press conference where she said that she would not let any institution to fall off the cliff. Sitharaman also said that the RBI has been asked to look into what went wrong with Yes Bank and fix individual responsibilities. RBI Governor Shaktikanta Das today said that resolution efforts are aimed at maintaining "stability and resilience" in the Indian financial sector and the challenges will be overcome "very swiftly". On BSE, Yes Banks stocks plunged by over 80 per cent during intra-day trade, before closing 56.04 per cent lower at Rs 16.20. (With PTI inputs)

Potential investor will have to pick up 49% stake in Yes Bank; SBI shown willingness: RBI

<p>After shares of Yes Bank fell 56 per cent on Friday, Union Finance Minister Nirmala Sitharaman said that she would not let any institution to fall off the cliff.&nbsp;</p>

<p>Sitharaman addressed a press conference on the Yes Bank crisis a day after RBI placed the organisation under a 30-day moratorium.</p>

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<p dir="ltr" lang="en">Finance Minister Nirmala Sitharaman: <a href="https://twitter.com/hashtag/YesBank?src=hash&amp;ref_src=twsrc%5Etfw">#YesBank</a> lent money to some of the very stressed corporations like Anil Ambani Group, Essel, Dewan Housing Finance Corporation (DHFL), Infrastructure Leasing &amp; Financial Services Limited (IL&amp;FS), and Vodafone. <a href="https://t.co/D7a5tzuYS9">pic.twitter.com/D7a5tzuYS9</a></p>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1235898661776711680?ref_src=twsrc%5Etfw">March 6, 2020</a></blockquote>
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<p>The finance minister also assured the employees that their jobs and salaries would remain secured for one year. She also said that the deposits and liabilities would be unaffected by the crisis.&nbsp;</p>

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<p dir="ltr" lang="en">Union Minister Nirmala Sitharaman on <a href="https://twitter.com/hashtag/YesBank?src=hash&amp;ref_src=twsrc%5Etfw">#YesBank</a>: Investigative agencies, SEBI noticed malpractices by top executives in March 2019 <a href="https://t.co/vEoaKFUIDs">https://t.co/vEoaKFUIDs</a></p>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1235896112554229760?ref_src=twsrc%5Etfw">March 6, 2020</a></blockquote>
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<p>Earlier today, shares of Yes Bank fell 84 per cent before recovering to close 56 per cent lower at Rs 16.20. Its market valuation plummetted Rs 5,266.23 crore to Rs 4,131.77 crore on the BSE.</p>

<p>"Since 2017, RBI has been continuously monitoring and scrutinizing Yes Bank. It noticed that there were governance issues and weak compliances. There was a wrong asset classification together with risky credit decisions," Sitharaman said.&nbsp;</p>

<p>Sitharaman also said that the government is "committed to ensuring that depositors' interests are safeguarded".&nbsp;</p>

<p>Earlier on Thursday, depositors of the bank rushed to ATMs to withdraw cash after the apex bank placed it under a moratorium, capping maximum withdrawals at Rs 50,000 per account for a month.</p>

<p><em>(with inputs from agencies)</em></p>


After shares of Yes Bank fell 56 per cent on Friday, Union Finance Minister Nirmala Sitharaman said that she would not let any institution to fall off the cliff.

After shares of Yes Bank fell 56 per cent on Friday, Union Finance Minister Nirmala Sitharaman said that she would not let any institution to fall off the cliff. Sitharaman addressed a press conference on the Yes Bank crisis a day after RBI placed the organisation under a 30-day moratorium. Finance Minister Nirmala Sitharaman: #YesBank lent money to some of the very stressed corporations like Anil Ambani Group, Essel, Dewan Housing Finance Corporation (DHFL), Infrastructure Leasing & Financial Services Limited (IL&FS), and Vodafone. pic.twitter.com/D7a5tzuYS9 — ANI (@ANI) March 6, 2020 × The finance minister also assured the employees that their jobs and salaries would remain secured for one year. She also said that the deposits and liabilities would be unaffected by the crisis. Union Minister Nirmala Sitharaman on #YesBank: Investigative agencies, SEBI noticed malpractices by top executives in March 2019 https://t.co/vEoaKFUIDs — ANI (@ANI) March 6, 2020 × Earlier today, shares of Yes Bank fell 84 per cent before recovering to close 56 per cent lower at Rs 16.20. Its market valuation plummetted Rs 5,266.23 crore to Rs 4,131.77 crore on the BSE. "Since 2017, RBI has been continuously monitoring and scrutinizing Yes Bank. It noticed that there were governance issues and weak compliances. There was a wrong asset classification together with risky credit decisions," Sitharaman said. Sitharaman also said that the government is "committed to ensuring that depositors' interests are safeguarded". Earlier on Thursday, depositors of the bank rushed to ATMs to withdraw cash after the apex bank placed it under a moratorium, capping maximum withdrawals at Rs 50,000 per account for a month. (with inputs from agencies)

Yes Bank crisis: Will not let any institution to fall, says FM Nirmala Sitharaman

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Potential investor will have to pick up 49% stake in Yes Bank; SBI shown willingness: RBI

Yes Bank crisis: Will not let any institution to fall, says FM Nirmala Sitharaman