State Bank of India Chairman Rajneesh Kumar said he plans to invest a maximum of Tk 1.5 crore in bankruptcy Yes Bank.
In the wake of the financial crisis, the Reserve Bank of India has announced a draft restructuring plan to protect customers’ funds as RBI takes control of the unstable S Bank.
Accordingly, SBI State Bank of India Investors Becomes S Bank employees have not changed their terms of service including salary and allowances. This means employees do not have to worry for at least a year.
But the board will decide on the key management responsibilities. According to the draft restructuring plan, the government’s capital is Tk 5,000 crore. A total of 20 million shares, of which the share price of the United States State Bank of America buys 49% of the shares.
A new board is also being created, which will include at least 6 executive directors, CEOs and chairmen, 2 executive directors. 2 Directors SBI By. Board members have been in office for one year.
Regarding the refurbishment plan of Yes Bank SBI Chairman Rajneesh Kumar said:
We decided to take a 49 per cent stake in Yes Bank. We will buy a very low 26% stake. How many shares are finalized after the board meeting? Immediately after paying Rs. We are planning to invest Rs 2,450 crore in Yes Bank.
The bank can invest Tk 10 billion. We mentioned it in the draft. Investments will be made considering the needs and circumstances.
In doing so, he said.