SBI defending Yes Bank says it can to invest up to Rs 10,000 crore in it’s a reconstruction


Rajnish Kumar, chairman of State Bank of India said on Saturday that around Rs 10,000 crore will be requiring as the outer limit for the investment in the bank in the tormented Yes Bank.

Kumar also revealed that there are some domestic and international investors who have shown their interest in reconstructing Yes Bank. The investors’ list includes 2-3 good names.

Yes Bank Depositors Money is not at Risk

The SBI chairman agrees at a media interaction that the limit of Rs 50,000 cash withdrawals is going to cause a lot of inconvenience to the customers for a few days. But Kumar gives assurance that the depositors of Yes Bank should not be worried about their money and its completely safe.

Inquire about the willingness of SBI in the reconstruction of Yes Bank, Rajnish aforesaid that if the bank decides to go solo and choose to pick the entire 49% agreed by the RBI, it’s actual investment according to the current capital base would be Rs 2,450 crore.

If the Bank will require Rs 20,000 crore for the reconstruction and razors it’s authorized capital accordingly, then an investment of Rs 10,000 crore will be made by SBI. According to Kumar, they have agreed for a minimum commitment of 26%, which will be around Rs 5,200 crore. Anything that goes above that, equal to 49%, will rely on other investor’s interests.

The chairman guarded the choice to rescue a private bank because according to him, the risk of fraud is more if it failed. He argued that the government is required to come with rescue packages even in “temples of capitalism”. The packages were in the form of a $2-trillion troubled asset purchase in the US. Also, £50-billion bank recapitalization in the UK.

Kumar has about Yes bank and he also said that there is a need to distinguish clearly. Yes Bank is a brand, it’s an entity whereas Rana Kapoor is an individual. If something wrong has been done by an individual, he will have to pay the price for that. However, the enterprise did not suffer in this case.

Kumar further added, though the investment SBI will make in Yes Bank may have an adverse impact on its finances, they have done their math. The impact on SBI’s capital adequacy will be almost negligible. The bank as a policy of maintaining its capital adequacy ratio at half a proportion around the statutory requirement. And according to Kumar, it will not change.

Kumar also has a positive opinion for maintaining a cordial relationship between the two banks. he said, once there is a new board and CEO placed in Yes Bank, SBI will maintain a healthy relationship and carry its confidence through the new board.

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