A timeline of troubles at YES Bank
It is not just the Reserve Bank of India (RBI) but multiple rating agencies and auditors have pointed out to YES Bank’s lending practices.
As the economic downturn landed many of its loans in trouble territory, Yes Bank started hiding the extent of its stressed loans. Soon, the regulator got wind of it and took action that led to the ouster of its founder Kapoor, from the bank.
Apart from credit practices, the bank was hit with reports that markets regulator SEBI would investigate it for insider trading. There were reports linking Kapoor’s personal investments and the affairs of the bank.
While a change in management did bring some hope, a crucial second round of fund raising was mired in several rumours, announced and deals that were never done.
In spite of claims that multiple international investors were keen on infusing funds, no funds ever came in, which made RBI supersede the board.
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