CURRENT AFFAIRS

Detailed explanation-1: -SBI will be issued 245 crore shares at a price of Rs 10 per share for Rs 2450 crore. This will be 49% of the share capital of the reconstructed bank.

Detailed explanation-2: -SBI, which played a key role in bailing out Yes Bank, must hold at least 26% until March 2023, according to the government-approved reconstruction plan.

Detailed explanation-3: -SBI is allowed to reduce the stake in the YES Bank at the end of Financial Year 2022-23 (FY23) but it may not decide about that this financial year due to volatile market conditions. State Bank of India (SBI), which currently holds 26 per cent stake in the YES Bank, will not take a decision to sell its stake this year.

Detailed explanation-4: -State Bank of India Chairman Dinesh Kumar Khara “Till March 2023, we are required to hold 26 percent stake (in Yes Bank).

Detailed explanation-5: -The near term target would be ₹18.50 and thereafter if given a breakout can further rise till ₹21 to ₹22 zone once again. The support for Yes Bank share price would be maintained near ₹15.50 to ₹20 apiece zone."