Rana Kapoor's custody extended in Mumbai money laundering case

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Mumbai, March 16, 2020 Monday

Mumbai's special court on Monday extended custody of Enforcement Directorate in the money laundering case of Yes Bank co-founder Rana Kapoor till March 20. The 62-year-old bank founder was initially in custody until March 11, which was later extended to March 16.

Rana Kapoor alleged that during his tenure, he had loaned Rs 30,000 crore to various organizations. According to the ED, the loan amounted to Rs 20,000 crores as NPA. The Enforcement Directorate is investigating how this money was manipulated.

Relief news for account holders

There is now news of relief for Yes Bank account holders after a new scheme has been implemented to bring Yes Bank on the lease. The tweet on Monday informed that the bank has removed all restrictions on account holders.

That is, customers will be able to deal with their account after 6pm on March 18th. The account holders will be able to deal with all 1,132 branches of the bank.

A loss of Rs 18,564 crore to Yes Bank

The crisis hit Yes Bank in the quarter ended Saturday, December 2019 with an outlay of Rs. Reported a loss of Rs 18,564 crore. This private sector management bank is currently doing Prashant Kumar with the order of the Reserve Bank of India.

In the same period last year, the bank received Rs. There was a profit of Rs 1000 crore and a loss of Rs 629 crore in the quarter ended September.

Yes Bank's non-performing assets (NPAs) rose to 18.87 per cent in the December quarter from 7.39 per cent in the previous quarter (September).

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