 "yes bank")
The government has approved a plan for State Bank of India to lead a consortium that will buy stake in YES Bank, people in the know have told Bloomberg. SBI has also been authorised to pick other members of the consortium.
YES Bank has struggled to raise capital it desperately needs to stay above regulatory requirements as it battles high levels of bad loans due to its exposure to troubled sectors. The lender has been trying to raise $2 billion in fresh capital for two quarters.
In January, the bank said it had rejected a $1.2 billion investment offer
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