New Delhi: RBI has presented the draft of revival of Yes Bank. The Reserve Bank has sought the opinion of the share holders of banks, Yes Bank and SEBI in this matter. After restructuring Yes Bank, there will be some changes in it.
Revival plan of RBI
- Authorized capital of the bank will come down to Rs 5000 crore.
- RBI will appoint additional director in the new Yes Bank.
- The equity shares of Yes Bank will be Rs 2,400 crore at Rs 2 per share.
- SBI will not reduce its stake in the bank to less than 26% for three years after making the investment.
- SBI will take a 49 per cent stake in Yes Bank.
- The new Yes Bank will have a six-member board. The new board will have one non-executive chairman and 2 non-executive directors.
- All deposits of Yes Bank will remain as before.
- After the formation of a new bank, Yes Bank will have to remove Tier-1 bonds from the balance sheet forever.
- If there is any complaint about the draft of the new bank, then it has to be told before March 9.
- The board of the new YES Bank may ask the top officials of the bank to leave.
- All the branches and offices of Yes Bank will continue to operate at the same place as before.
- The new Yes Bank may start new branches but will have to close the existing branches.
- Yes Bank Employees’ job will be safe for next one year. In the new Yes Bank, his salary will remain the same as before. There will be no deduction.
- Yes Bank will have two members on its board.
- The bank will have a total of 6 members, including the CEO and MD.
- The draft scheme has been sent to SEBI and Yes Bank for comment.
