Mumbai: Prashant Kumar, the new CEO of Yes Bank, said on Tuesday that the entire functioning of the bank will return to normal from Wednesday evening. He also said that there is really no concern about the cash in the bank. In the last three days, deposits have come more than withdrawals in Yes Bank.
He said that only one third of the bank’s customers withdrew Rs 50,000-50,000 from their accounts. The ban on the bank stuck in crisis will end on Wednesday evening. State Bank of India (SBI) and some other private banks have invested in the bank under the restructuring plan.
SBI Chairman Rajneesh Kumar said that out of all the shares of Yes Bank with State Bank, not a single share will be sold before the fixed mortgage period of three years. He also said that State Bank of India will increase its stake in Yes Bank from 49 percent to 49 percent in the second round of capital support.
