<p>Shares of Yes Bank on Monday jumped sharply by over 58 per cent after the union cabinet on Friday approved reconstruction scheme for the stressed lender.</p>.<p>The scrip witnessed a strong comeback and zoomed 58.12 per cent to Rs 40.40 on the BSE.</p>.<p>On the NSE, it climbed 58.12 per cent to Rs 40.40.</p>.<p>112.78 lakh shares were traded on the BSE and 9.55 crore shares changed hands on the NSE during the day.</p>.<p>Finance Minister Nirmala Sitharaman said the union cabinet has approved the reconstruction scheme for Yes Bank as suggested by the Reserve Bank.</p>.<p>On March 5, the Reserve Bank of India (RBI) imposed a moratorium on Yes Bank, restricting withdrawals to Rs 50,000 per depositor till April 3.</p>.<p>The RBI also superseded the board and placed it under an administrator, Prashant Kumar, former deputy managing director and CFO of State Bank of India (SBI).</p>.<p>Giving details about the scheme, Sitharaman said SBI will invest for 49 per cent equity in Yes Bank and other investors are also being invited.</p>.<p>SBI has invested Rs 6,050 crore in crisis-ridden Yes Bank.</p>.<p>ICICI Bank, Housing Development Finance Corp (HDFC), Axis Bank, Kotak Mahindra Bank, Bandhan Bank, Federal Bank and IDFC First have also joined the SBI-led consortium and invested in Yes Bank.</p>.<p>The cash-strapped lender had on Saturday reported Rs 18,564 crore loss in December quarter. Its gross non-performing assets also shot to 18.87 per cent in December 2019 quarter against 2.10 per cent in the year-ago.</p>.<p>"Lifting of deposit withdrawal moratorium on 18th March could open flood gates and will require a calibrated approach along with active support and signalling from the RBI, government and investor banks," said a report by Emkay Global Financial Services.</p>.<p>The reconstituted bank board too may need more turnaround experts and eminent bankers,it said. </p>
<p>Shares of Yes Bank on Monday jumped sharply by over 58 per cent after the union cabinet on Friday approved reconstruction scheme for the stressed lender.</p>.<p>The scrip witnessed a strong comeback and zoomed 58.12 per cent to Rs 40.40 on the BSE.</p>.<p>On the NSE, it climbed 58.12 per cent to Rs 40.40.</p>.<p>112.78 lakh shares were traded on the BSE and 9.55 crore shares changed hands on the NSE during the day.</p>.<p>Finance Minister Nirmala Sitharaman said the union cabinet has approved the reconstruction scheme for Yes Bank as suggested by the Reserve Bank.</p>.<p>On March 5, the Reserve Bank of India (RBI) imposed a moratorium on Yes Bank, restricting withdrawals to Rs 50,000 per depositor till April 3.</p>.<p>The RBI also superseded the board and placed it under an administrator, Prashant Kumar, former deputy managing director and CFO of State Bank of India (SBI).</p>.<p>Giving details about the scheme, Sitharaman said SBI will invest for 49 per cent equity in Yes Bank and other investors are also being invited.</p>.<p>SBI has invested Rs 6,050 crore in crisis-ridden Yes Bank.</p>.<p>ICICI Bank, Housing Development Finance Corp (HDFC), Axis Bank, Kotak Mahindra Bank, Bandhan Bank, Federal Bank and IDFC First have also joined the SBI-led consortium and invested in Yes Bank.</p>.<p>The cash-strapped lender had on Saturday reported Rs 18,564 crore loss in December quarter. Its gross non-performing assets also shot to 18.87 per cent in December 2019 quarter against 2.10 per cent in the year-ago.</p>.<p>"Lifting of deposit withdrawal moratorium on 18th March could open flood gates and will require a calibrated approach along with active support and signalling from the RBI, government and investor banks," said a report by Emkay Global Financial Services.</p>.<p>The reconstituted bank board too may need more turnaround experts and eminent bankers,it said. </p>