Yes Bank – The Full Story Uncovered
But the most pertinent question arising in this situation is why nothing was done by RBI to stop the crisis when it initially started to develop? The people had trusted the government and RBI and whose regulation the bank was under. Why did the government and RBI fail to see the corruption in Yes bank that was going through a very long time? What about Responsible Authorities promising strong iron fist of regulation, checks, and audits?
Many Experts say that Yes Bank Crisis story did not happen immediately but is a years-old story and many saw this crisis coming a long year ago when Yes Bank Top Brass Rana Kapoor – Founder and CEO of the bank began giving huge loans to the stressed companies that were expected to crash in the market.
The companies included DHFL (Dewan Housing Finance Limited), IL&FS, Anil Ambani Group, Cafe and Coffee day, Essel Group, Vodafone, etc. All these companies were not doing well then and people in the market know that if a bank or NBFC sanction loans to them then that loan will be very hard to recover as these businesses of these companies were likely to fail, which happened.
