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ICICI Bank on Friday said its Board of Directors has approved an investment of up to Rs 1,000 crore in equity shares of Yes bank. With this development, ICICI Bank becomes the first private sector lender to approve investment in the crisis-ridden Yes Bank.

ICICI Bank board agrees to invest Rs 1,000 cr in Yes Bank amidst crisis

State Bank of India (SBI) had said it would need to invest up to Rs 2,450 crore to buy a 49 per cent stake in Yes Bank Ltd as part of the initial phase of a rescue deal for the troubled lender.

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ICICI Bank board agrees to invest Rs 1,000 cr in Yes Bank amidst crisis

SBI needs to invest Rs 2,450 crore to buy 49% stake in Yes Bank amidst crisis