The Reserve Bank of India (RBI) has given Rs 60,000 crore help to Yes Bank in order that it could actually fulfill the duty of depositors. During a press convention on March 16, Reserve Bank of India Governor Shaktikanta Das mentioned, 'I wish to guarantee the account holders of Yes Bank that their cash is totally secure they usually needn’t panic.
He mentioned that "Yes Bank has sufficient funds to satisfy any want. If there may be any want, the Reserve Bank of India will assist it absolutely. Normal functioning in Yes Bank has already began.
Which financial institution invested a lot in Yes Bank
SBI has been allotted 605 crore shares for 6050 crore rupees. <! –
After this transfer, SBI could have a 49 p.c stake in Yes Bank. According to the Reserve Bank of India's Rescue Scheme, SBI will be unable to cut back its stake in Yes Bank to lower than 26 p.c. ICICI Bank and HDFC have additionally determined to take a position Rs 1,000-1,000 crore in Yes Bank, which is going through a disaster. Both banks have purchased 100-100 crore fairness shares on the price of Rs 10 per share. Axis Bank will make investments 600 crores and Kotak Mahindra Bank will make investments 500 crores. Apart from this, Bandhan Bank will make investments Rs 300 crore in Yes Bank. IDFC First Bank can even make investments Rs 250 crore in Yes Bank. Earlier, Federal Bank additionally introduced to take a position Rs 300 crore in Yes Bank. Federal Bank will purchase 30 crore shares of Yes Bank.
It grew to become regular to work in Yes Bank
Yes Bank has began its work from Wednesday, the purchasers of the financial institution will now be capable to make the most of banking companies as earlier than. The Reserve Bank had imposed a ban on March 5. Under this, prospects got exemption to withdraw as much as Rs 50,000 from their account by April 3. The authorities notified the restructuring plan final week.