Saturday, January 23, 2021
Home Business The Yes Bank Story: The Gripping Tale Of India's Biggest Bank Failures

The Yes Bank Story: The Gripping Tale Of India’s Biggest Bank Failures

A cautionary tale as it exposes the chink in India's armor against financial chaos

Who is Rana Kapoor and, more importantly, what role did he play in the rise and fall of YES Bank?

On September 28, 2018, after announcing that he was going to step down as the managing director of YES Bank, Rana Kapoor had claimed: “Diamonds are forever. My promoter shares of YES Bank are invaluable to me.”

Follow NewsGram on Instagram to keep yourself updated.

However, in a span of just 14 months, Kapoor did a complete U-turn. He sold his entire stake in the bank, even as the shares continued to get hammered by investors. Rana Kapoor and Ashok Kapur had founded YES Bank in 2004. On March 5, 2020, the Reserve Bank of India (RBI) took control of it in an attempt to avoid the collapse of the bank, which had an excessive amount of bad loans.

ALSO READ: Planning To Save Tax With ULIPs? Know This

In “The Banker Who Crushed His Diamonds” (Penguin), journalist Furquan Moharkan takes you right to the start of Rana Kapoor’s career as a banker, charting his meteoric rise, his mercurial personality, the lavish lifestyle, and the unraveling of it all.

Kapoor’s story runs parallel with that of the fourth largest private bank in India. In what feels like a story straight from a financial thriller, the book uncovers the rot deep within YES Bank’s glittering success story. It serves as much as a cautionary tale as it exposes the chink in India’s armor against financial chaos. It’s truly a gripping tale of one of modern India’s biggest banking failures and the man behind it all. (IANS)

STAY CONNECTED

19,120FansLike
362FollowersFollow
1,773FollowersFollow

Most Popular

Mountain Kilimanjaro Is Scaled By A Telangana IPS Officer

The Indian Police Service IPS official reached the top of Mountain Kilimanjaro, 5,895 meters above sea level, on January 21 at 08.15 a.m. (local...

Amit Shah Claims North East Has The Potential To Become A Tourist Hub

Union Home Minister Amit Shah on Saturday said that the central government led by Prime Minister Narendra Modi is leaving no stone unturned in...

Swara Bhasker Says That The Idea Is To Try Things One Hasn’t Done Before

Actress Swara Bhasker has donned multiple looks in her new web series, Aapkey Kamrey Mein Koi Rehta Hai, and she says trying different things...

How Financial Institutions Assess Your Financial Health And What You Can Do To Improve It

Everyone works hard to make the right financial decisions in their lives. Doing so involves adopting practices like saving money and making secure investments....

7 Great Teachings Of Guru Acharya Chanakya

BY SHWETA PORWAL Chanakya, traditionally identified as Kautilya or Vishnugupta was born in the 3rd century BC (350-275 BC) in Patliputra. Chanakya was born to...

CT Helps Catch Liver Disease

Researchers have identified that multiple CT findings can identify patients with high-risk non-alcoholic fatty liver disease (NAFLD) -- advanced fibrosis or cirrhosis, that is...

Kirti Kulhari: Harsh reality is Gender-based violence!

Actress Kirti Kulhari feels gender-based violence is a harsh reality, one that has gone up amid the pandemic. "Together, we are facing the largest social,...

Placental Function in Pregnant Women Can Give Rise To Future Diseases: Study

Researchers have discovered a direct association between placental function in pregnant women and future metabolic disorders in children and adults. The study, published in the...

Recent Comments