Cabinet approves reconstruction plan for Yes Bank, moratorium to be lifted within 3 days: Nirmala Sitharaman
Union Ministers Nirmala Sitharaman, Piyush Goyal and Prakash Javadekar briefed media on the outcome of the cabinet meeting on Friday. The cabinet today approved the reconstruction plan for Yes Bank with authorised capital that has been raised from Rs 1,100 crore to Rs 6,200 crore of the crisis-hit bank to accommodate immediate and subsequent raising of capital requirements. SBI will reportedly have a 49% stake in Yes Bank.