What's cooking behind YES Bank's back?
With reports of possible stake sale to a SBI-led consortium doing the rounds, embattled YES Bank has stoutly denied being in the know of any such development
- Mar 5, 2020,
- Updated Mar 5, 2020 9:57 PM IST
Government has reportedly cleared a plan to hand over the beleaguered YES Bank to public sector banks and financial institutions. State Bank of India (SBI), the largest lender in the country, has purportedly put together a consortium for this purpose.
However, YES Bank has stoutly denied having any information in this matter. "The bank has not received any such communication from the Reserve Bank of India, or any other government or regulatory authority, or from the SBI, and we are unaware of any such decision," the private lender said in a filing to the stock exchanges. "We are not in a position to comment on such news items."
Meanwhile, SBI's response has kept everybody guessing. "We will abide by the timelines of SEBI in disclosing the developments, if any, in the matter to stock exchanges," stated the public sector bank.
RBI may have a solution for Yes Bank's billion-dollar problem
Government has reportedly cleared a plan to hand over the beleaguered YES Bank to public sector banks and financial institutions. State Bank of India (SBI), the largest lender in the country, has purportedly put together a consortium for this purpose.
However, YES Bank has stoutly denied having any information in this matter. "The bank has not received any such communication from the Reserve Bank of India, or any other government or regulatory authority, or from the SBI, and we are unaware of any such decision," the private lender said in a filing to the stock exchanges. "We are not in a position to comment on such news items."
Meanwhile, SBI's response has kept everybody guessing. "We will abide by the timelines of SEBI in disclosing the developments, if any, in the matter to stock exchanges," stated the public sector bank.
RBI may have a solution for Yes Bank's billion-dollar problem