State Bank of India (SBI) chairman Rajnish Kumar on Saturday said, the bank had received the draft scheme for the reconstruction of troubled private lender YES Bank and a legal team was evaluating the plan and due diligence is underway. He also said that the SBI has set an upper limit of Rs 10,000 crore for investment in YES Bank.
“Plan has been received by SBI and the legal team is working on the plan. We had informed through the stock exchange that SBI board has given in-principle approval of exploring possibility of picking up a stake of upto 49 per cent in YES Bank,” Kumar said
Kumar said that an investment team is analysing the balance sheet of the troubled private lender and SBI would go to the Reserve Bank of India (RBI) by March 9. The SBI chief has also said that the initial