A day after RBI effectively took control of #YesBank and appointed an administrator from SBI to overlook operations, ED conducted raids at #Yes_Bank founder Rana Kapoor's residence in Mumbai.It is said that Yes Bank founder Rana Kapoor was being questioned in connection with the bank’s relationship with troubled reality firm DHFL.SBI likely to pick up a 49 per cent stake for approximately Rs 2,400 crores to revive the ailing private sector lender.
Finance Minister #NirmalaSithraman on Friday assured #YesBank depositors that their money is safe and there will be no loss to any of them.
As central government imposed a one-month moratorium on #YesBank including capping depositior withdrawals at Rs 50,000, first lines of the obituary are being written for the ban.
Nirmala Sitharaman confirmed on Friday that the troubled Yes Bank had loan exposure to “very stressed” companies associated with Anil Ambani and Subhash Chandra, two industrialists considered close to Prime Minister Narendra Modi.