The biggest error in the plan executed to rescue Yes Bank was to trap depositors through Rs 50,000 withdrawal cap. It was both unnecessary and dangerous.
SBI chairman says if it picks up 49% stake in Yes Bank under RBI’s draft reconstruction scheme, the immediate investment requirement will be Rs 2,450 crore.
SBI has already obtained an 'in-principle' approval to explore investment opportunities in Yes Bank and a former SBI CFO has been appointed as an administrator.
Yes Bank should’ve been overseen by a Resolution Authority, depositors shouldn’t have had to face moratorium. Now SBI or LIC shouldn’t be forced to buy it.
SBI Cards & Payment Services IPO received orders for 22.5 times the shares on offer. It’s a strong showing for India’s first billion-dollar IPO since 2017.
The rescue plan will throw a lifeline to Yes Bank which has been struggling to raise capital since the middle of last year, as it has faced a surge in bad loans.
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The armoured platform is India's first amphibious infantry combat wheeled vehicle. Last year, the Royal Moroccan Armed Forces had procured 90 military trucks from the Tata Group.
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