Yes Bank’s Rana Kapoor to confront the Mumbai Court
SBI CEO, Kumar suggests a strategic rescue plan for YES Bank
Meanwhile, as RBI put Yes Bank on a 30 day moratorium period and arrested the MD and CEO, Rana Kapoor, SBI came up with a resolution to combat the banking crisis. Yes Bank currently has a loan burden of Rs. 35000 crore in its journey of the last 15 years. Yes, Bank was caught off-guard by RBI as the reduction of depositor amount to Rs. 50000 was a shock to bank management.
The five-page draft modulated by the RBI stated SBI as an investor of 49 percent stake and the state-run bank came up with the proper plan to rescue the mediocre private bank. The Bank is in immediate need of capital for the deterioration in the quality of the assets to combat the market risks, operational risk. All we could do as citizens are to keep our fingers crossed for the SBI-Yes restructuring scheme to stop another breakdown in the history of the Indian Banking Sector.
