State Bank of India’s (SBI) board has given the largest lender an in-principle approval to invest in the capital-starved Yes Bank. The announcement came after Yes Bank was placed under a moratorium, with the RBI capping deposit withdrawals at Rs 50,000 per account for a month and superseding its board. According to reports, the government has asked SBI and life insurance behemoth LIC to collectively pick up a 49 percent stake in Yes Bank.
Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.
