Shares of Yes Bank Ltd surged 19% on Thursday on a report that the Indian government has approved a plan for top lender State Bank of India to lead a consortium that will buy a stake in the troubled private-sector bank. Yes Bank and SBI did not immediately respond to Reuters’ request for comment. Yes Bank has struggled to raise capital it desperately needs to stay above regulatory requirements as it battles high levels of bad loans due to its exposure to troubled sectors. …read more
Source:: Yahoo Finance
