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Bengaluru: State Bank of India (State Bank of India), The country’s largest lender executive committee has approved further investment of Rs 1,760 crore in the public offering Yes BankAccording to a regulatory filing.
In March this year, the SBI board approved an investment of Rs 7,250 crore in troubled lender Yes Bank.
Earlier this year, the Reserve Bank of India (RBI) took control of Yes Bank, as the lender suffering from bad debts had failed to raise the capital needed to stay above the regulated regulatory requirements.
Since then, SBI has stepped in to acquire and retain a stake in the private lender. However, SBI’s total investment is unlikely to exceed Rs 10,000 crore, according to the bank’s chairman.
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