India markets open in 7 hours 56 minutes
  • BSE SENSEX

    43,828.10
    -694.92 (-1.56%)
     
  • Nifty 50

    12,858.40
    -196.75 (-1.51%)
     
  • Dow

    29,846.17
    -200.07 (-0.67%)
     
  • Nasdaq

    12,085.64
    +48.85 (+0.41%)
     
  • BTC-INR

    1,394,675.88
    -13,609.00 (-0.97%)
     
  • CMC Crypto 200

    374.19
    +3.67 (+0.99%)
     
  • Hang Seng

    26,669.75
    +81.55 (+0.31%)
     
  • Nikkei

    26,296.86
    +131.27 (+0.50%)
     
  • EUR/INR

    87.9342
    -0.1997 (-0.23%)
     
  • GBP/INR

    98.7256
    -0.2279 (-0.23%)
     
  • AED/INR

    20.0400
    -0.0850 (-0.42%)
     
  • INR/JPY

    1.4127
    +0.0053 (+0.38%)
     
  • SGD/INR

    55.0740
    -0.1430 (-0.26%)
     

SBI to invest 17.60 billion rupees in Yes Bank

·1-min read
A man checks his mobile phones in front of State Bank of India (SBI) branch in Kolkata

SBI to invest 17.60 billion rupees in Yes Bank

A man checks his mobile phones in front of State Bank of India (SBI) branch in Kolkata

BENGALURU (Reuters) - State bank of India, country's largest lender's executive committee has approved a further investment of upto 17.60 billion rupees in public offering of Yes Bank, according to a regulatory filing.

In March this year, SBI board had approved an investment of 72.50 billion rupees into the troubled lender Yes Bank.

Earlier this year the Reserve Bank of India (RBI) had taken control of Yes Bank, after the bad-debt laden lender had failed to raise the capital it needed to stay above mandated regulatory requirements.

Since then SBI had stepped in to acquire a stake in the private lender and to keep it afloat. However, SBI's total investment is not likely to exceed 100 billion rupees, according to the bank's chairman.

(Reporting by Nallur Sethuraman in Bengaluru and Nupur Anand in Mumbai; Editing by Louise Heavens)