SBI helps yes bank because they didn’t recollect the loans on time. Due to its mis-management in the financial institutions SBI forced to rescue. On the command order of RBI, SBI takes the steps forward.
Yes bank having the huge number of customers, they believe their government should take some actions on yes bank issue. This bank also claimed that taking the Jagannath temple money by fraud. So this issue should quickly resolved, by that all customers didn’t get inerruped while transactions.
Political Statement :
Senior congress leader and former finance minister p Chidambaram said it is “only part of the BJP government’s mismanagement of country’s financial institutions”.
On Saturday, India’s largest lender, the state bank of India (SBI) ,said its board has given an in-principal approval for the bank to buy up to 49 per cent stakes in yes bank.