No clue about Yes Bank's crisis: Founder Rana Kapoor
Mumbai/IBNS: Yes Bank founder and former MD Rana Kapoor has said he is unaware of the developments that led the Reserve Bank of India to impose moratorium on the private bank, an India Today report said.
Kapoor told India Today that he had not been involved with the bank for the past 13 months and has no clue what led to the development.
He is said to have single-handedly propelled Yes Bank on a growth track, the report said. With his efforts, the bank's asset book swelled to Rs 3.4 lakh crore in just a decade, it added.
In Nov 2019, Kapoor and the promoter entities, YES Capital and Morgan Credits sold the remaining part of his stake in the bank. Earlier, he and his group entities sold 2.16 per cent stake worth Rs 510 crore in Yes Bank through an open market transaction. This was in addition to the stake sale of 1.8 per cent in the same month, said the report.
In a major crisis for Yes Bank, the government on Thursday imposed a withdrawal limit of Rs 50,000 for depositors of the beleaguered private bank.
A notification, issued by the finance ministry on Thursday evening, said the limit will stay in effect till Apr 3, 2020.
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