'Rana Kapoor, wife, daughters floated shell cos to get kickbacks'
Business | Mar 08, 2020, 05:22 PM ISTThe former MD and CEO of Yes Bank Rana Kapoor, along with his family members, allegedly set up over 20 shell companies to receive kickbacks
The former MD and CEO of Yes Bank Rana Kapoor, along with his family members, allegedly set up over 20 shell companies to receive kickbacks
A war of words broke out between the BJP and Congress on Sunday over the Yes Bank crisis with the ruling party seeking to link it with the Gandhi family, while the opposition wondered if the prime minister and finance minister were "complicit" as the bank's loan book grew manifold.
Investments worth over Rs 2,000 crore, 44 expensive paintings and a dozen alleged shell firms are at the heart of ED's investigations against Yes Bank founder Rana Kapoor who was arrested by the agency on Sunday on money laundering charges, officials said.
Yes Bank founder Rana Kapoor, who has been arrested by Enforcement Directorate (ED) in a money laundering case, has been sent to its custody till March 11 by a Mumbai's Special Holiday Court.
The Enforcement Directorate on Sunday arrested Rana Kapoor, the founder of Yes Bank under the charges of Money Laundering. According to the ED, Kapoor was placed under arrest around 3 am under the provision of the Prevention of Money Laundering Act (PMLA) as he was allegedly not cooperating in the probe.
Yes Bank announced late Saturday that its debit cards can be used for withdrawing cash at other bank ATMs also. The move comes after long queues were seen at Yes Bank ATMs and branches and numerous complaints by customers that they were not being able to withdraw any money.
The Enforcement Directorate (ED) arrested Yes Bank founder Rana Kapoor under money laundering charges in the wee hours of Sunday, officials said.
Indiatvnews.com brings to you breaking news, latest photos and videos from across India and the world on March 08, 2020. HIGHLIGHTS:
Delhi's ruling Aam Aadmi Party on Saturday attacked the Centre for bringing YES Bank to the brink of bankruptcy, saying the self-proclaimed pro-Hindu BJP government duped savings of 18 lakh Hindus.
The State Bank of India (SBI) on Saturday said it will be issued 245-crore shares at a price of Rs 10 each for Rs 2,450 crore in Yes Bank
Fintech startup PayNearby, which has a tie-up with Yes Bank to offers cardless and pinless ATM services to customers, on Saturday said its systems are running without any disruptions.
Yes Bank Crisis: Former Union Finance Minister and veteran Congress leader P Chidambaram lashed out at the government and Reserve Bank of India over Yes Bank crisis. He addressed media on Saturday and questioned RBI's action in preceding years.
Panicked Yes Bank customers were seen queuing up at the bank's ATMs at various locations, but to no avail as as most cash-dispensing machines ran dry, after the Reserve Bank placed the crisis-hit lender under a moratorium. However, many a customers said they were able to withdraw the stipulated amount of Rs 50,000 through cheques at Yes Bank branches.
A day after the Enforcement Directorate registered a money laundering case against Yes Bank founder Rana Kapoor and raided his premises, he was taken to the agency's office in Mumbai on Saturday for further questioning.
State-owned insurer Life Insurance Corporation may consider joining RBI efforts to rescue Yes Bank. This can help to increase capital infusion under the draft scheme to rescue Yes Bank designed by the Reserve Bank of India.
The Rajkot Municipal Corporation has written to the Reserve Bank for the release of the Smart City Mission fund worth about Rs 160 crore stuck in the troubled private sector lender Yes Bank, Gujarat deputy Chief Minister Nitin Patel said on Saturday.
SBI chairman Rajnish Kumar on Saturday said that there is no question of a merger with the Yes Bank, as it is evaluating the restructuring draft scheme of the crisis-hit bank.
SBI Chairman Rajnish Kumar on Yes Bank crisis Saturday said that a plan has been received by SBI and the legal team is working on the plan. We had informed through the stock exchange that SBI board has given in-principle approval of exploring the possibility of picking up a stake of upto 49% in the crisis-hit bank.
Public shareholders of Yes Bank faced bigger losses on the RBI's latest action on the private sector lender with Friday's stock price of Rs 16.60, meaning that their stake value now stands at Rs 3,880.91 crore against Rs 10,976.82 crore in December 31, a loss of Rs 7,092 crore and it could be more if the stock price is hammered more in coming days.
PhonePe has restored its payments services for transactions made using debit and credit cards and through its wallet on its mobile app on Saturday. The system had faced disruptions earlier in the day due to Yes Bank being put under a moratorium.
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