Yes Bank founder Rana Kapoor arrested by midnight, interrogated for 15 hours

by Jeremy Spirogis
Yes Bank founder Rana Kapoor arrested by midnight, interrogated for 15 hours

Yes Bank Crisis: The founder and former CEO of Yes Bank, Rana Kapoor (Rana Kapoor) has been arrested by the Enforcement Directorate (ED) group. Earlier, within the ED group, Rana Kapoor was severely questioned for 15 hours. He was then arrested at three within the morning (Arrest). Rana Kapoor shall be introduced within the Prevention of Money Laundering Act courtroom today. Let us let you know that earlier on Saturday, the ED raided Rana Kapoor's hideouts in Delhi (Delhi) and Mumbai (Mumbai). On Saturday afternoon, Rana Kapoor was delivered to the ED's workplace at Ballard Estate. The ED has additionally issued a glance out discover towards Rana Kapoor. According to which now Rana Kapoor can’t go away the nation and run. <! –

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It is believed that after the arrest of Rana Kapoor, ED can tighten the screws on many massive officers of Yes Bank. Let me let you know that Rana Kapoor is accused that in lieu of mortgage to DHFL firm (DHFL), profit was paid to Kapoor's spouse's account. During this, there are allegations of monetary disturbances. Earlier, Yes Bank had put an quantity of Rs 6,355 crore in dangerous loans within the 12 months 2017.

During the interrogation, ED requested Rana Kapoor many questions associated to the transactions of Yes Bank. Apart from this, the ED additionally questioned the transactions between his household firms and DHFL. Let me let you know that earlier than the arrest of Rana Kapoor, the ED questioned him 15 hours lengthy at his workplace in Ballard Estate. Earlier on Friday, his home was raided by the Central Investigation Agency. According to the information company PTI, ED can take custody of Rana Kapoor earlier than the courtroom.

Explain that in view of the weak situation of Yes Bank accounts, the Reserve Bank of India (RBI) has put Yes Bank below surveillance, in addition to has taken over all of the operations of the financial institution. At the identical time, SBI has deliberate an funding to assist Yes Bank, which is dealing with monetary disaster. In this regard, the Reserve Bank of India has issued a 'Draft Reconstruction Scheme' on Friday. On this scheme, SBI will discuss to RBI on Monday with the approval of its board.

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What is the entire matter

Yes Bank was began within the 12 months 2004. In the 12 months 2019, the full capital of S Bank elevated to Rs three lakh 80 thousand 826 crore. But quickly it began sinking into debt. At current, Yes Bank has a mortgage of Rs 2 lakh 41 thousand 500 crore. Due to which the NPA of S Bank elevated. After this, the RBI took over all of the operations of Yes Bank. Also, the board of administrators of the financial institution has been dissolved for 30 days. An administrator was appointed to supervise the financial institution.

Prashant Kumar, former deputy managing director and chief monetary officer of SBI, has been appointed as the brand new administrator of Yes Bank. With this, the RBI has made the restrict of withdrawing cash from the financial institution of the account holders to 50 thousand rupees a month. Which shall be relevant until 03 April. However, in particular circumstances, the account holder can withdraw as much as Rs 5 lakh. Which consists of necessities associated to research, therapy and marriage.

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