Yes Bank debacle: Rana Kapoor’s arrest & RBI’s revival plan; full story
The Reserve Bank of India’s decision on March 5, 2020 to impose a moratorium on Yes Bank caught many off-guard. The withdrawal limits placed on all accounts led to a lot of concern and worry among depositors. While the RBI promised a swift resolution of the problem, investigation agencies swung into action against the bank’s founder Rana Kapoor. He was booked for alleged money laundering, criminal conspiracy, and corruption. Here is a brief description of the RBI’s drastic step, the circumstances which led to it, and what lies in store next.