New Delhi. SBI’s explanation has also not taken YES Bank into its possession as Mega later announced plans to raise a $ 2 billion fund. SBI, State Bank of India, MCLR, Lending Rate, SBI Lending Rate, SBI MCLR XSBI shares are trading around 2.4% higher at Rs 328 on BSE.
Even rumors of India’s largest lender SBI overthrowing loss-making private sector lender Yes Bank, however, SBI CFO Prashant Kumar have denied such reports. Prashant Kumar said in an interview to CNBC TV18, “There is no truth in these reports that SBI will be asked to handle Yes Bank or any other weak private sector bank.”
SBI shares are trading around 2.4% higher at Rs 328 on BSE. SBI’s explanation has also not taken YES Bank into its possession as Mega later announced plans to raise a $ 2 billion fund. The board of directors of Yes Bank, in its meeting scheduled for today, will finalize and approve the preferential allocation details, which will call an extraordinary general meeting later, to obtain shareholders’ approval to raise capital.
Rumors were rife that the regulator may ask SBI to take a loss on the private sector lender. In the latest quarter, Yes Bank reported a loss of ₹ 09 Yes crore on the back of a one-time DTA adjustment due to changes in the corporate tax rate regime. Yes Bank said in a statement, excluding the one-time hit, the adjusted profit was Rs 109 crore. This was the second largest quarterly loss since the bank’s listing, after a loss of Rs 1,506.60 crore in the March quarter of this year. Gross non-performing assets (GNPA) for the quarter were 7.39 percent from 5.01 percent in the June quarter and 1.6 percent in the year-ago period.
