SBI looking to hive off ‘You Only Need One’ into separate subsidiary: Rajnish Kumar
The State Bank of India launched the Yono platform in November 2017 with an aim to give an alternate solution to its customers.
The State Bank of India launched the Yono platform in November 2017 with an aim to give an alternate solution to its customers.
The bank is redesigning and renaming all its branches as Yono branches or digital branches.
The governor said setting up a resolution corporation was earlier part of the FRDI Bill which the government withdrew because there were certain issues which needed closer examination.
Kumar, however, said banks can go for debt recast even today as per June 7 circular of the RBI.
His statement gains significance as both depositors and investors are concerned about the bank's future and capital adequacy.
In its draft 'YES Bank Ltd. Reconstruction Scheme, 2020' announced on Friday evening, the RBI said that SBI has expressed willingness to invest in the private lender and that it will bring in 49 per cent equity.
Last week witnessed a flurry of meetings in the national capital between senior executives of the telecom firms and the government representatives.
Yes Bank’s shares drowned over 80 per cent over the past year amid worries about its asset quality and uncertainty about its efforts to raise new capital.
After an industry event here, Kumar was asked about the likelihood of SBI acquiring a much smaller bank.
State Bank of India’s (SBI) Chairman Rajnish Kumar on Friday said that there is a need to “recognise the contribution”…
