The draft comes a day after the RBI imposed a moratorium on the bank, restricting withdrawals to Rs 50,000 per depositor till April 3. The RBI has also superseded the board of the bank, which is now being headed by former deputy managing director and CFO of SBI Prashant Kumar.
RBI's rescue plan for Yes Bank:
1. SBI will have to pick up 49% stake
2 SBI cannot reduce holding to below 26% before three years from the date of capital infusion
3. From the appointed date, the authorised capital of the private sector bank would stand altered to Rs 5,000 crore
4. Number of equity shares to 2,400 crore having face value of Rs 2 each
5. The investor bank (SBI) shall agree to invest in the equity of the reconstructed bank to the extent that post infusion it holds 49 per cent shareholding in the reconstructed bank at a price not less than Rs 10 (Face value of Rs 2) and premium of Rs 8
6. "All the deposits with and liabilities of the reconstructed bank, except as provided in the scheme, and the rights, liabilities and obligations of its creditors, will continue in the same manner and with the same terms and conditions, completely unaffected by the Scheme, The instruments qualifying as Additional Tier 1 capital, issued by the Yes Bank Ltd. under Basel III framework, shall stand written down permanently, in full, with effect from the Appointed date."
7. The reconstructed Yes Bank will have six member board, including CEO& MD and non-executive chairman. The investor bank (read SBI) shall have two nominee directors appointed on the Board of the Reconstructed Bank
8. Reserve Bank of India may appoint Additional Directors in exercise of the powers conferred by sub-section (1) of Section 36AB of the Banking Regulation Act, 1949.
9. The Board of directors of the Reconstructed Bank will have the freedom to discontinue the services of the key managerial personnel at any point after following the due procedure.
 "YES Bank")
