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2004 -

✅ Rana Kapoor & Ashok Kapur started the bank in 2004
✅ Their wives were sisters too
✅ Ashok was moderate, Rana was an aggresive businessman

2008 -

✅ Ashok of them died in 26/11 attack
✅ But it was Ashok, because of whom the duo got a license to run
a bank
✅ Yet, now Rana was at the helm.
✅ Ashok's wife wanted her daughter on the board. Both fought it out in court for long time

✅ Rana started giving out loans like freebies
✅ People were envious that he always got his money back, even from those..
..who didn't give anyone else's money

✅ Rana was running the bank to ground with losses, but he charged a 'fee' with every loan, that kep his fillings look profitable


✅ RBI started to realise something wasn't right at Yes Bank
✅ Many companies like CCD, HDFL, JET...
Airways, whom Yes Bank had given loans, started crumbled down
✅ RBI sent one of their men to sit on Yes Bank's board


✅ Many of those who started the bank along with Rana, started to leave


✅ RBI put the bank under moratorium, a draft is out to save it
✅ SBI will reportedly have 49% stake at the bank

✅ For the next one month, depositors will only be able to withdraw 50,000 rupees /500,000 (if they have marriage/health emergency/student fee/other emergency)

✅ From UPA to Modi govt, every govt failed to see what was...
.... going on

✅ Rana was close to every political party. From Chidambaram attending his daughter's wedding, to him buying Priyanka Gandhi's painting for 2 crores to him praising demonetization, he was well-networked aggresive businessman who failed

✅ RBI closed in on this..
.. case a little bit late. But they have scrambled fairly quickly and blaming this delay on any government doesn't sound like a logical argument

✅ Yes Bank hid all this in their filings. Rules for disclosing NPAs were different before and he took advantage of that.
✅ Now the rules have changed. Banks have to report NPAs directly. This is one of the reasons why RBI can also sense any mess up early on.
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