Rana Kapoor, Yes Bank founder

-Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings.

Fear, Anger And Panic Among NRIs- Yes Bank Crisis
Hopefully, the  RBI and Indian Government stepping in will put an end to that

SBI would invest some 25 billion rupees ($339 million)- rescue plan for Yes Bank brings relief to NRIs & Indian depositors

Finance Minister Sitharaman assures depositors’ money will be safe under the new plan

Los Angeles, March 07, 2020
NRIpress.club/Ramesh/ A.Gary Singh Grewal

Under a Government of India pressure, now State Bank of India (SBI) will pick up 49 per cent stake and led rescue plan comes as a big relief to the NRIs (non-resident Indians) and thousands of Indian depositors

• Nirmala Sitharaman, Indian Finance Minister said, the restructuring plan would be implemented within 30 days.
• RBI issued a draft reconstruction scheme for the private sector lender and said SBI has “expressed its willingness” to make an investment.
• Now ex-SBI chief financial officer (CFO) has already been appointed administrator of the Yes Bank.
• Under rescue plan, SBI- State Bank of India is expected to invest Rs25 billion in Yes Bank-  reconstructed bank at a price not less than Rs10 (Face value of Rs2) and premium of Rs8,” as per the RBI proposal.

For NRIs worldwide, the latest news about Yes Bank’s woes will raise further concerns:

• The Thursday action by the government also restricts all depositor cash withdrawals to 50,000 rupees until next month. 

Hopefully, the  RBI and Indian Government stepping in will put an end to that.  The Yes Bank saga has a new chapter now for NRIs.
Yes Bank Shares Down By 85%;  The board of Yes Bank was superseded by the Reserve Bank of India, in an effort to save their sinking ship. ... The RBI also announced that there will be a cap on the withdrawal of deposits, which will be up to Rs. 50,000 unless a few exceptional rules.
Yes Bank, India’s fifth largest private lender, accounts for approximately 2.3 per cent of total bank loans and 1.6 per cent of bank deposits domestically.

Rana Kapoor, Yes Bank founder Arrested:

The Enforcement Directorate (ED) on Sunday arrested Yes Bank founder Rana Kapoor.
•        The premises of Kapoor's three daughters in Delhi and Mumbai were also searched on Saturday to gather more information and evidence
•        Rana Kapoor's role in connection with the disbursal of loans to some corporate entities and the subsequent alleged kickbacks reportedly received in his wife's accounts.
A Rs 600-crore worth loan extended by the DHFL to an entity:

• There is linked to the scam-hit Dewan Housing Finance Corporation (DHFL) as the loans given by the bank to the company allegedly turned non-performing assets (NPAs)

Yes Bank Limited is an Indian private sector bank, founded by Rana Kapoor and Ashok Kapur in 2004. It primarily operated as a corporate bank, with retail banking and also asset management as subsidiary function

Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings.

It operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 9 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi