The irony of Yes bank is that while in many other cases like PMC, no one saw it coming. In the case of Yes<br />Bank its collapse has been hanging like a climax over everyone’s collective heads for a long time now.<br />And it circles back to the same script – greedy promoters, blatant misuse by key borrowers, a pantomime<br />like circus around PR and media and clueless retail depositors.<br />On the 5 th of March, India’s central bank seized control of Yes Bank Ltd. and imposed curbs on the<br />operations of the lender. Withdrawals for depositors have been curbed to 50,000 rupees.<br />The RBI has also said a rescue plan will be put in place within the next 30 days. The hero who will play<br />saviour ? No surprises. State Bank of India – which from being India’s largest lender has now donned a<br />PE role where in the Finance Minister’s words, “The Investor bank , that’s SBI shall agree to invest in the<br />equity of the reconstructed bank to the extent that post infusion it holds 49% shareholding.”
