Mumbai, March 15 (TIWN) As the government on Saturday notified the reconstruction scheme for Yes Bank, major private banks have come out with investment commitments for the crisis-hit bank.

Federal Bank on Saturday announced that it would invest Rs 300 crore in Yes bank by subscribing to its 30 crore shares of Rs 2 each for cash, at a premium of Rs 8 per equity share.  With this, six private banks have now committed investment of Rs 3,700 crore in the cash-strapped private sector bank.  On Friday, ICICI Bank and Housing Development Finance Corporation Ltd announced that they will be investing Rs 1,000 crore each in Yes Bank''s equity. Axis Bank and Kotak Mahindra Bank will be investing Rs 600 crore and Rs 500 crore respectively, while Bandhan Bank will be investing Rs 300 crore.  State Bank of India''s board has already approved up to 49 per cent stake purchase in Yes Bank, as per the RBI''s reconstruction scheme for the bank. It had said on Thursday that an investment of Rs 7,250 crore would be made in Yes Bank to pick up 725 crore equity shares.  Both ICICI and HDFC Bank are likely to have five per cent shareholding each in the restructured Yes Bank. In its regulatory filing, HDFC Bank had said its investment of Rs 1,000 crore would be completed by March 31.  In a regulatory filing on Saturday, Federal Bank said the Bank has issued an equity commitment letter to invest Rs 300 crore in Yes Bank Ltd.  The banks will acquire equity shares of Rs 2 each of Yes Bank Limited, at a premium of Rs 8 per equity share, which means they would buy shares at Rs 10 each under the proposed Scheme of Reconstruction of Yes Bank Limited under the Banking Regulation Act, 1949.  On Friday, the Union Cabinet approved the Reserve Bank-proposed reconstruction plan for Yes Bank that got notified the next day. Under the terms of the scheme, the State Bank along with other private investors would pump in equity.  While SBI will be anchor bank with investment upto 49 per cent equity of Yes Bank, it will have to hold at least 26 per cent stake in the private bank for a minimum period of three years. Similarly, the other investors, including the private banks and existing shareholders of Yes bank holding more than 100 shares will also be mandated to have a similar lock-in period for 75 per cent of their investment in the bank.