Fall of an ace banker! Who's Rana Kapoor, the brain behind YES Bank
Even though YES Bank collapsed because of high non-performing assets (NPAs), Rana Kapoor was once known for his unmatched ability to recover every penny lent to the most shrewd and dubious clients, which also earned him the title of the 'lender of the last resort'
The YES Bank crisis has shaken up the banking sector of India. On March 5, YES Bank was put under a moratorium and the RBI superseded its board. While the central bank and the country's biggest public sector lender, SBI, were together in their efforts to save YES Bank from further downfall. And, in the midst, its founder and former YES Bank boss Rana Kapoor is being investigated by the ED for alleged money laundering now.
Here's a lowdown on who is Rana Kapoor, coming up of YES Bank and more:
The YES Bank crisis has shaken up the banking sector of India. On March 5, YES Bank was put under a moratorium and the RBI superseded its board. While the central bank and the country's biggest public sector lender, SBI, were together in their efforts to save YES Bank from further downfall. And, in the midst, its founder and former YES Bank boss Rana Kapoor is being investigated by the ED for alleged money laundering now.
Here's a lowdown on who is Rana Kapoor, coming up of YES Bank and more: