Yes bank will not fail, solution will be found for its stability: Chairman of SBI
- Yes bank going through financial crisis is trying to raise capital.
- Stocks fell 80% last year due to uncertainties.
MUMBAI: SBI Chairman Rajneesh Kumar has said that Yes Bank will not fail. It is an important bank with a balance sheet of about $ 40 billion (2.85 lakh crore rupees). Its failure will not be good for the Indian economy. I am sure some solution will come out. Rajnish Kumar, who reached the ongoing World Economic Forum in Davos, said this in an interview to Bloomberg TV on Wednesday.
Government may forward SBI to revive Yes Bank: Report
Prior to Rajneesh Kumar’s statement, media reports were also speculating that the government might ask SBI to save Yes Bank, which is going through an economic crisis. However, last month Rajneesh Kumar said that there is no question that SBI will do something for Yes Bank.
Yes Bank shares up by 6%
Yes Bank stock saw a 6% gain on Thursday. The stock fell to Rs 41.35 on the BSE. However, YES Bank shares fell 80% last year due to uncertainties over asset quality and capital raising efforts. The bank is trying to increase its equity capital ratio so that it remains above the minimum regulatory requirements of 8%.
