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India’s largest lender bank will invest in Yes Bank
March 13, 2020
Country’s largest lender bank will invest ₹ 7,250 crore in Yes Bank shares affected by the crisis.
SBI said in a regulatory filing, “The Executive Committee of Central Board (ECCB) granted approval for buying shares of Yes Bank at a price of ₹ 10 per share”.
SBI’s shareholding in Yes Bank will remain 49%. RBI has launched a scheme for Yes Bank to bring it back on its feet. The scheme was introduced a day after the RBI imposed a prohibition on the Yes bank.
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