Saturday 4 April 2020
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todayonline - 8 days ago

India s Yes Bank to raise up to 50 billion rupees after government-led rescue

BENGALURU - Yes Bank Ltd lt;YESB.NS gt; said on Thursday it was looking to raise up to 50 billion rupees ($665.88 million) in an effort to shore up its capital base after a government-led rescue of the private sector lender. India earlier this month approved a rescue plan, which saw State Bank of India, the country s largest public lender, take a 49% stake in Yes Bank after the central bank placed the lender under a moratorium on March 5. The bank resumed normal operations on March 18. REUTERS


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