State Bank of India informed that the matter regarding buying stake in Yes Bank was discussed at the meeting of the central board of the bank on 5 March 2020.
The bank's board has given an in-principle approval to explore investment opportunity in the bank, SBI said in an exchange filing made after market hours yesterday.
Shares of the largest public lender were trading 8.01% lower at Rs 265.20. The stock moved in a range of Rs 257.35 to Rs 273.05 so far during the day.
State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. Government of India holds 57.68% stake in SBI as on 31 December 2019.
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