India's SBI would need to invest US$331m in Yes Bank rescue

"We are the largest bank in the country and we have a role to play," SBI Chairman Rajnish Kumar said, adding that India's largest state-run lender had been asked by the government to stand behind Yes Bank.

MUMBAI: State Bank of India said on Saturday it would need to invest up to 24.5 billion rupees ($331 million) to buy a 49% stake in Yes Bank Ltd as part of the initial phase of a rescue deal for the troubled lender.

"We are the largest bank in the country and we have a role to play," SBI Chairman Rajnish Kumar said, adding that India's largest state-run lender had been asked by the government to stand behind Yes Bank.