Fear of Yes Bank’s Downfall Existed For a Long Time, Here’s Why

Fear of Yes Bank’s Downfall Existed For a Long Time, Here’s Why

News Videos

Video Editor: Vivek Gupta & Mohd Irshad Alam

Crisis in the banking sector just doesn't seem to end. Everybody knew that there was a crisis in Yes Bank for the past three years. Finally, the RBI has taken over Yes Bank and imposed a moratorium of 30 days.

There was a sense of panic among depositors as they can withdraw only Rs 50,000 till the moratorium is lifted. There are around 29 lakh savings accounts with the bank (retail depositors).

Also Read : SBI to Own 49% Stake in Yes Bank, Chidambaram Calls it ‘Bizarre’

Loading...

Panic and chaos was witnessed at the branches of the bank. Even after the moratorium is lifted, we will have to see if depositors' faith can be restored. The biggest news is the rescue plan: SBI will take 49 percent of equity in the bank.

SBI will have to put Rs 5,000 crore at Rs 2 per share. More liquidity infusion is required. SBI will have to invest another Rs 12,000 crore to keep the bank alive.

Watch the video to know the whole story.

Also Read : ‘SBI Rescue Plan is Bizarre’: P Chidambaram on Yes Bank Fiasco

We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated.

(Make sure you don't miss fresh news updates from us. Click here to stay updated)

Follow our News Videos section for more stories.

News Videos
Loading...