Discover and read the best of Twitter Threads about #corporates

Most recents (2)

Thread

#YesBank Story

How Rana Kapur gobbled 5000 crore in kickbacks

Give out loans to doubtful Co's
They become NPA's
Instead of declaring em NPAs & initiating recovery proceedings, Kapoor conspired with the companies & got them to invest in firms run by his wife & daughters.
In 2015, @RBI, under asset quality review, the RBI inspectors found that #YesBank had suppressed its NPAs — reportedly underreporting the same by Rs 2,299 crore in 2018-19, Rs 6,355 crore in FY 2017 and over Rs 4,000 crore in FY2016 —as well as it had cooked up its balance sheet.
Rana Kapoor continued his rein till 2019, when he was shown the door, but by then, it was already too late

Meanwhile, the bank’s bad loans kept growing. Following the RBI’s asset quality review in 2019, its gross #NPA's surged 87% from a year ago, Its net NPAs more than doubled.
Read 9 tweets
m.economictimes.com/news/company/c…

@tatatrusts pumped in Rs. 600 cr. in political funding this year. This is more than a 100% hike in funding since the 2014 election, where the entity infused Rs. 220 cr. Could these funds not be used to create #infrastructure instead? (1 of n)
When #Modi was voted to power in 2014, I had observed (and the observation continues to date) the stock markets got bullish despite the not-so-great macro economic parameters. When a #government gets funding of the sort @tatatrusts gives, it has to pander to such #corporates. (2)
It is the prerogative of each organisation/entity how it wants to dospense its surplus, but with monies of such quantum, wouldn't it have been more worthwhile to help regions in need of infrastructural & other basic needs like #healthcare in the form of #charity? (3)
Read 6 tweets

Related hashtags

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!