Due Diligence On Yes Bank, Have Time Till Monday To Go To RBI, Says SBI | Read

PUBLISHED ON: March 7, 2020 | Duration: 21 min, 53 sec

  
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State Bank of India (SBI) chairman Rajnish Kumar said on Saturday that the lender is conducting due diligence on the restructuring plan for Yes Bank, and will get back to the Reserve Bank of India (RBI) with comments by Monday. "There are many potential investors who have approached us after looking at the draft scheme," he said during a media interaction. His comments come a day after the government laid out a rescue plan for Yes Bank under which SBI - the country's largest lender by assets - will take a 49 per cent stake in the troubled private sector lender. The central bank has suspended Yes Bank's board and imposed a withdrawal limit of Rs 50,000 on its account holders till April 3.
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