Won't allow YES to fall off a cliff: Sitharaman to investors

RBI announced a scheme of reconstruction of YES Bank, under which State Bank of India may pick up up to 49% stake in YES Bank. Earlier, banking stocks on Friday fell sharply in step with the broader market. Investors in Lakshmi Vilas Bank were also worried since the private sector lender was under Reserve Bank of India’s prompt corrective action framework.

from Banking/Finance-Industry-Economic Times https://ift.tt/2vJA4Te