State Bank Of India To Buy Rs 7,250-Crore Stake In Yes Bank

The country's largest lender State Bank of India (SBI) on Thursday said that its board had approved a plan to purchase 725 crore Yes Bank shares at a price of Rs 10 apiece. The announcement comes days after the Reserve Bank of India (RBI) suspended the troubled private sector lender's board and restricted withdrawals from its accounts till April 3. Struggling under a growing pile of bad debt, Yes Bank had been trying to raise the cap...