Yes Bank Crisis: CBI Probes Rana Kapoor's Deals

The Central Bureau of Investigation (CBI) on Monday, began probing Yes Bank founder Rana Kapoor's deals. Multiple teams of CBI conducted raids at seven locations reportedly related to Rana Kapoor.

CBI officials are reported to have said that they registered cases under Section 420 and other sections of IPC. Look out notices were issued against members of Rana Kapoor's family on Sunday.

The Yes Bank CEO's daughter, Roshni Kapoor was detained at Mumbai airport as she was trying to fly out to London on Sunday. The Economic Offences wing of the CBI are investigating multiple deals of Yes Bank founder Rana Kapoor and his family members.

The Enforcement Directorate is currently questioning the Yes Bank CEO and have also summoned members of his family. On Sunday night, ED officials are reported to have interrogated Kapoor's daughters. ED has called in Roshni Kapoor on Monday morning as well, according to media reports.

Yes Bank has tried to stay afloat for several months now and on Thursday the Reserve Bank of India (RBI) stepped in, imposing limits on withdrawals limiting it to Rs.50,000. RBI clarified that it is working on a plan to revive the bank.

The RBI is now bringing in the State bank of India SBI to bail out yes bank. The Reserve Bank has allayed fears of customers and told them that there is no need to panic. Union Finance Minister Nirmala Sitharaman also assured customers of Yes Bank that their money is safe.