ED raids Mumbai-based residence of Yes Bank founder Rana, cash laundering case registered

by Jeremy Spirogis
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Mumbai: The Enforcement Directorate on Friday raided the residence of Yes Bank founder Rana Kapoor in Mumbai. Significantly, the cash laundering case is below investigation in opposition to Kapoor. Officials mentioned that raids are being performed at his Samudra Mahal residence. This motion has been taken below the Prevention of Money Laundering Act and its function is to assemble extra proof.

Explain that the withdrawal restrict of Rs 50,000 for Yes Bank clients has been set by the Reserve Bank of India (RBI) on Thursday. <! –

                 After this, calls from troubled clients saved coming in varied branches of the financial institution and lengthy queues had been seen within the branches. Customers took out their anger on social media. The Reserve Bank has dissolved the board of administrators of the financial institution, former Deputy Managing Director and Chief Financial Officer of State Bank of India Prashant Kumar has been appointed because the financial institution's administrator.

The Reserve Bank has set a withdrawal restrict of Rs 50,000 for the depositors of Yes Bank. This keep is for 30 days. During this time, clients of personal sector Yes Bank complained that web banking was not working, and many individuals vented their anger on the social media website Twitter that they weren’t in a position to withdraw their funds. The financial institution additionally modified its tollfree quantity from 18002000 to 18001200.

( Input company )

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