State Bank of India board approves $977 million for Yes Bank stake buy
SBI, the country's largest lender, said its stake in Yes Bank will remain within 49 percent
The crowd outside Yes Bank in Ahmedabad on Friday. Photo: Indian Express Javed Raja
State Bank of India (SBI) said on Thursday its board has approved the purchase of 7.25 billion shares worth 72.50 billion rupees ($977.09 million) in Yes Bank as part of an initial phase of a rescue deal for the troubled lender.
SBI, the country's largest lender, said its stake in Yes Bank will remain within 49 percent.
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