InvestorQ : Is it true that LIC will also be joining SBI in the rescue effort for Yes Bank?
Arti Chavan made post

Is it true that LIC will also be joining SBI in the rescue effort for Yes Bank?

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10 months ago
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While there is no confirmation yet, it is expected that Life Insurance Corporation may also be joining RBI efforts to rescue the Yes Bank. This can help to increase capital infusion under the draft reconstruction scheme to rescue Yes Bank. The RBI, SBI and the finance ministry are already in touch with LIC to evaluate its interest in the scheme. Incidentally, LIC already holds 8.06% in Yes Bank and would be very keen on its rescue. For LIC, recovery of Yes bank is important as it also has an exposure of Rs.8,051 crore to the debt instruments of Yes Bank. SBI has already committed to go up to Rs.10,000 crore in terms of infusion and if LIC joins in then the capital infusion commitment could be much higher. Finance Minister has assured that all deposits will be guaranteed and that SBI will continue to hold 26% even after the statutory dilution.

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