ED probes Kapoor
Courtesy: Twitter( Rana Kapoor, Yes Bank’s Founder

Enforcement Directorate (ED) held a probe against the Yes Bank’s founder, Rana Kapoor where he is being questioned in relation to the latest Yes Bank crisis.

The development came after Finance Minister Nirmala Sitharaman in a press briefing ensured everyone that a probe will be conducted to find out the reason behind the bank’s deposit decline.

Kapoor’s house was also searched late Friday night, after which a lookout circular was also issued for Kapoor and his wife to prevent them from leaving the country.

Yesterday, RBI imposed a “moratorium” on the Board of Directors of Yes Bank after the bank went into stress due to a decline in its total deposit capital. For now, RBI has also imposed a withdrawal limit of Rs 50,000 on every individual transaction.

Nirmala Sitharaman after speaking with RBI governor Shaktikant Das has ensured the depositors that their money is safe and the matter will be resolved, keeping the benefit of the depositors, bank and the economy in consideration. However, many depositors of the bank were seen in the lines outside the bank branches in distress to withdraw their money within the withdrawal limit.

ALSO READ: Yes Bank Crisis: All Your Questions Answered


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