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State Bank of India says a 49% stake in Yes Bank will cost Rs 24.5 bn
Reuters
Last Updated IST
State Bank of India (SBI) Chairman Rajnish Kumar. (PTI Photo)
State Bank of India (SBI) Chairman Rajnish Kumar. (PTI Photo)

State Bank of India said it will need to invest 24.5 billion rupees if it were to buy a 49% stake in Yes Bank as part of a rescue deal of the troubled lender.

SBI Chairman Rajnish Kumar told reporters on Saturday the rescue of Yes Bank was a "must," less than two days after the Reserve Bank of India (RBI) took control of the bank and said it would work on a revival plan.

The RBI took over from the bank's board for 30 days and imposed limits on withdrawals to protect depositors.

"The survival of the bank is a must," SBI Chairman Rajnish Kumar, told reporters at a news conference.

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(Published 07 March 2020, 13:11 IST)