✅ Rana Kapoor & Ashok Kapur started the bank in 2004
✅ Their wives were sisters too
✅ Ashok was moderate, Rana was an aggresive businessman
✅ Ashok of them died in 26/11 attack
✅ But it was Ashok, because of whom the duo got a license to run
✅ 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..
✅ 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...
✅ 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
✅ 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...
✅ 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..
✅ Yes Bank hid all this in their filings. Rules for disclosing NPAs were different before and he took advantage of that.