SBI on Monday made it clear that the crisis struck Yes Bank will not be merged with SBI. Prashant Kumar, the administrative officer of the newly commissioned rescue management team, negating the rumors confirmed that the battered Yes Bank in no case would be merged to SBI.
“There is absolutely no question of a merger,” Prashant Kumar, the administrator, told the CNBC TV18 channel.
The Reserve Bank of India (RBI) on Thursday took control of Yes Bank, after the lender — which is laden with bad debts — failed to raise the capital it needs to stay above mandated regulatory requirements.
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