Who will takeover Yes Bank?
Collectively, LIC and SBI will acquire the 49% stake for Rs 490 crore, according to a report in the Economic Times.
The stake acquisition has been approved by the RBI to rescue Yes Bank.
The SBI board had late on Thursday also given the (SBI) bank an “in-principle” approval to invest in the capital-starved Yes Bank..
Will Yes Bank be merged?
NEW DELHI: Yes Bank will not be merged with State Bank of India (SBI), which is set to infuse funds in the beleaguered lender, the newly appointed administrator leading the rescue plan said on Monday. “There is absolutely no question of a merger,” Prashant Kumar, the administrator, said.
Which bank merged with Yes Bank?
SBIYes Bank: SBI will have to merge YES Bank if rescue package fails to revive it – The Economic Times.
Is Yes Bank merger with Kotak Mahindra?
Two of India’s top bankers on Tuesday said that Kotak Mahindra Bank Ltd. is best suited to acquire smaller and capital-starved rival Yes Bank Ltd. Yes Bank’s capital buffers have dipped on accelerated NPA recognition under Chief Executive Office Ravneet Gill, who took charge earlier this year.
What happens if banks are merged?
Interest rates on your existing loans and fixed deposits will not change post the merger, unless renewed. It will only be transferred to the merged bank. … But, if you opt to continue with the marginal cost of funds based lending rate (MCLR), the loan will be linked to the new bank’s rates upon reset.
Will Yes Bank shut down?
The bank cannot be shut down nor can it be merged. It has to be run with global and domestic support,” said the investor mentioned above. … Yes Bank will be managed and run as an independent and private sector bank by a professional board with no interference by SBI in its day-to-day affairs, Kumar said.