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Union Cabinet clears draft resolution scheme for YES Bank revival


Union Cabinet clears draft resolution scheme for YES Bank revival


The Union Cabinet on 13 March, 2020 cleared a draft resolution scheme for cash-starved YES Bank.

Last week, the Reserve Bank of India had announced a draft scheme of reconstruction for the lender, according to which the strategic investor in the bank would pick up 49% stake and not reduce holding to under 26% before three years from the date of capital infusion.

The scheme was announced a day after the RBI imposed a month-long moratorium on the yes bank.

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