The Centre on Saturday notified the YES Bank
Reconstruction Scheme, 2020, a day after the Cabinet approved a reconstruction plan proposed by the Reserve Bank of India for bailing it out.
As per the reconstruction scheme, moratorium on the troubled lender will be lifted on March 18.
Under the plan, state-run SBI will infuse Rs 7,250 crore in the crisis-ridden bank and take 49% equity.
As per the rescue plan, ICICI Bank will invest Rs 1,000 crore, mortgage lender HDFC ₹1,000 crore, Axis Bank ₹600 crore, Kotak Mahindra Bank Rs 500 crore, Bandhan Bank and Federal Bank Rs 300 crore each.
There will be a three year lock-in period for all the investors. However, the lock-in period for SBI would be only for 26 per cent of shareholding. It would be 75 per cent in case of other investors.