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India sets out Yes Bank rescue, State Bank of India to take 49% stake

India sets out Yes Bank rescue, State Bank of India to take 49% stake

NEW DELHI/MUMBAI (Reuters) - India laid out a rescue plan for Yes Bank ( YESB.NS ) on Friday under which State Bank of India ( SBI.NS ) will take a 49% stake in the troubled lender, which is struggling with bad loans. Indian Finance Minister Nirmala Sitharaman said the restructuring plan would be implemented within 30 days, adding the depth of the

India sets out Yes rescue, State Bank of India to take 49% stake

India sets out Yes rescue, State Bank of India to take 49% stake

NEW DELHI/MUMBAI (Reuters) - India laid out a rescue plan for Yes Bank ( YESB.NS ) on Friday under which State Bank of India ( SBI.NS ) will take a 49% stake in the troubled lender, which is struggling with bad loans. Indian Finance Minister Nirmala Sitharaman said the restructuring plan would be implemented within 30 days, adding the depth of the

India's Yes Bank debacle jolts investors, customers and partners

India's Yes Bank debacle jolts investors, customers and partners

BENGALURU/MUMBAI/NEW DELHI (Reuters) - Shares in India’s Yes Bank ( YESB.NS ) plunged on Friday as panicky depositors rushed to withdraw funds and payment partners faced outages after the banking regulator took control of the lender in a late-night move and limited withdrawals. The shock move by the Reserve Bank of India (RBI) followed months of steady

State Bank of India to buy 49% stake in Yes Bank under rescue plan

State Bank of India to buy 49% stake in Yes Bank under rescue plan

NEW DELHI/MUMBAI (Reuters) - State Bank of India ( SBI.NS ), the country’s largest lender, will take a 49% stake in Yes Bank ( YESB.NS ), the Reserve Bank of India (RBI) said late on Friday as it laid out a plan for the rescue of the troubled private lender. India’s Finance Minister Nirmala Sitharaman at a briefing in New Delhi on Friday said the restructuring

State Bank of India exploring range of rescue options for troubled Yes Bank: sources

State Bank of India exploring range of rescue options for troubled Yes Bank: sources

NEW DELHI/MUMBAI (Reuters) - State Bank of India ( SBI.NS ), the country’s largest lender, is exploring a wide range of rescue options for struggling Yes Bank Ltd ( YESB.NS ) including a complete buyout of its private-sector rival, two sources familiar with the matter said. The sources, who asked not to be named as the discussions are private, said

India's Yes Bank plunges 60%, panicked depositors rush to withdraw funds

India's Yes Bank plunges 60%, panicked depositors rush to withdraw funds

BENGALURU/MUMBAI/NEW DELHI (Reuters) - Shares in India’s Yes Bank Ltd ( YESB.NS ) plunged 60% on Friday as panicky depositors rushed to withdraw funds after the central bank took control in a dramatic late-night move and limited withdrawals from the troubled lender. The shock move by the Reserve Bank of India (RBI) followed months of steady deterioration

Timeline: India central bank takes control of bad loan-burdened Yes Bank

Timeline: India central bank takes control of bad loan-burdened Yes Bank

(Reuters) - India’s central bank took control of the country’s fifth-largest private sector lender Yes Bank ( YESB.NS ) on Thursday and imposed limits on withdrawals, spreading confusion and fear among account holders. Shares of Yes Bank, which traded at 404 rupees at its peak in August 2019, fell to a record low of 5.65 rupees on Friday, with the

India's Yes Bank plunges 35% as central bank takes control

India's Yes Bank plunges 35% as central bank takes control

MUMBAI (Reuters) - Shares in India’s Yes Bank ( YESB.NS ) dropped nearly 35% on Friday to their lowest in more than a decade, after the central bank took control and set a limit on withdrawals because of a serious deterioration in its financial position. The Reserve Bank of India (RBI) took over from the board of the country’s fifth-largest private