A timeline of troubles at YES Bank
Advertisement
It is not just the Reserve Bank of India (RBI) but multiple rating agencies and auditors have pointed out to YES Bank’s lending practices.
Many reports suggest that Kapoor would cut deals with promoters without going as a consortium even for large loans. While this helped swell the loan book, it also landed the bank in trouble.
Advertisement
As the economic downturn landed many of its loans in trouble territory, Yes Bank started hiding the extent of its stressed loans. Soon, the regulator got wind of it and took action that led to the ouster of its founder Kapoor, from the bank.
Advertisement
Apart from credit practices, the bank was hit with reports that markets regulator SEBI would investigate it for insider trading. There were reports linking Kapoor’s personal investments and the affairs of the bank.
While a change in management did bring some hope, a crucial second round of fund raising was mired in several rumours, announced and deals that were never done.
In spite of claims that multiple international investors were keen on infusing funds, no funds ever came in, which made RBI supersede the board.
Advertisement
Next StoryAdvertisement
Elizabeth Holmes ordered dinners for Theranos staff but made sure they weren't delivered until after 8 p.m. so they worked late: book
My twin and I were in separate classrooms in school. Our joint math lesson made me realize how silly that was.
2,000 years before 'manscaping' and smooth armpits, the Romans were seriously into hair removal, archaeological findings show
Google is rolling out a new viewer mode in Meet: Here's how to use it
India vs Australia WTC Final – Squads, head-to-head, where to watch and more
May auto sales rise 10% but still below pre-Covid level with challenges in store
