The Reserve Bank of India or RBI today placed in public domain a draft scheme of revival Yes Bank, the public lender which has been put under the control of the central bank. India's biggest bank SBI has expressed its willingness to make investment in Yes Bank and participate in its reconstruction scheme, RBI said.

The RBI had invited suggestions and comments from members of public, including the banks' shareholders, depositors and creditors on the draft scheme. The draft scheme has also been sent to Yes Bank and SBI for their comments. RBI will receive suggestions up to Monday, March 9, and thereafter take a final view.

Finance Minister Nirmala Sitharaman on Friday said the government has asked the Reserve Bank to look into what went wrong at Yes Bank and fix individual responsibilities.

Addressing a press conference after the RBI superseded the board of Yes Bank and placed withdrawal restrictions, she said the bank was being monitored since 2017 and developments relating to it were being monitored on a day-to-day basis.

The restructuring scheme will be fully effective within 30 days, she said adding that State Bank of India has expressed willingness to invest in Yes Bank.

The Finance Minister also said that employment and salary of Yes Bank employees has been assured for one year.

Here are 10 things to know about RBI's draft Yes Bank reconstruction scheme:

1) All deposits with Yes Bank will continue in the same manner and with the same terms and conditions, completely unaffected by the scheme

2) Authorised capital shall stand altered to ₹5,000 crore and number of equity shares will stand altered to ₹2400 crore of ₹2 each. The investor bank shall agree to invest in the equity of reconstructed Yes Bank to the extent that post infusion it holds 49% shareholding in the reconstructed bank at a price not less than ₹10 (face value of ₹2) and premium of ₹8.

3) The investor bank shall not reduce its holding below 26% before completion of three years from the date of infusion of the capital into Yes Bank.

4) From the appointed date, the office of the administrator of Yes Bank, appointed by the Reserve Bank, shall stand vacated, and a new board will be constituted.

5) The investor bank shall have two nominee directors appointed on the board of the reconstructed Yes Bank.

6) RBI may appoint additional directors on the board of Yes Bank. It will be open to the board of directors of Yes Bank to co-opt more directors.

7) All the employees of reconstructed Yes Bank shall continue in its service with the same remuneration and on the same terms and conditions of service (T&C), including terms of determination of service and retirement, as were applicable to such employees immediately before the appointed date, at least for a period of one year.

8) The board of directors of reconstructed Yes Bank will however, have the freedom to discontinue the services of the key managerial personnel (KMPs) at any point of time after following due procedure.

9) The offices and branches of reconstructed Yes Bank bank shall continue to function in the same manner and at the same places they were functioning prior to the effective date, without in any way being affected by this scheme.

10) RBI said it will be open to the reconstructed Yes Bank to open new offices and branches or close down existing offices or branches, in accordance with the extant policy of the central bank.

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