New Delhi: State Bank of India (SBI) on Saturday reassured the depositors’ of crisis-hit Yes Bank that their money is not at risk at all. Speaking to reporters, SBI Chairman Rajinish Kumar informed that the country’s largest lender has received a plan on Yes Bank restructuring and conducting due diligence. Also Read - Yes Bank: Co-founder Rana Kapoor Booked in Money Laundering Case, Raid at Worli Residence
“We will get back to the Reserve Bank of India (RBI) on the restructuring plan for Yes Bank by Monday. There are many potential investors who have approached us after seeing the scheme of reconstruction for Yes Bank. Our investment and legal teams are looking into the draft scheme of reconstruction for Yes Bank”, said the SBI chief. Also Read - 26/11, Kapoor Versus Kapur, RBI Moratorium: How Yes Bank Trudged From One Pitfall to Another
Kumar also asserted that SBI board has given in-principle approval of exploring possibility of picking up a stake of upto 49% in Yes Bank.
Earlier on Friday, the RBI had laid out a rescue plan ‘Yes Bank Ltd. Reconstruction Scheme, 2020’ for the cash-ridden bank under which the strategic investor bank will take a 49 per cent stake in the troubled private sector lender.
The draft came a day after the RBI imposed a moratorium on Yes Bank, restricting withdrawals to Rs 50,000 per depositor till April 3. The central bank had also superseded the board of the private sector lender, which is now being headed by Prashant Kumar, an ex-chief financial officer (CFO) of SBI.
The last lender to be placed under a similar action was PMC Bank in September last year. While the withdrawal limits have been increased over time to Rs 1 lakh now, many PMC Bank depositors are still in the lurch.