NSTworld Rana Kapoor was arrested at about 3:00am Sunday.
In a late-night move Friday, the Central Bank seized control and imposed withdrawal limits on Yes Bank, which has been struggling with bad loans.
“He has been arrested as he was not cooperating in the probe,” an Enforcement Directorate official who requested anonymity told AFP.Officials earlier raided Kapoor’s sea-facing residence in an upscale Mumbai neighbourhood. The State Bank of India, the country’s largest lender, said Saturday it was ready to invest 24.5 billion rupees for a 49 percent stake in Yes Bank as part of a Reserve Bank of India-backed rescue plan.
The Reserve Bank said Yes Bank’s weakened position was “largely due to inability of the bank to raise capital to address potential loan losses and resultant downgrades.”
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Industri perlu tentukan gabung bank, bukan kerajaan, kata pakarPenggabungan bank menjadi buah mulut sejak sekian lama berikutan kejayaan langkah konsolidasi industri berkenaan susulan krisis kewangan Asia pada akhir 1990-an. FMTNews BNM PAS PerbankanDigital
Read more »
US quarantines bank notes from AsiaWASHINGTON: Dollar bills from China are going into quarantine due to the Covid-19 coronavirus epidemic, as the US Federal Reserve is putting extra precautions on money coming into the United States.
Read more »
Asia 's Covid-19 losses could top US$300bil warns bank as markets tumbleTOKYO/SHANGHAI/HONG KONG: The Covid-19 (coronavirus) outbreak could result in global economic losses of up to US$347bil, amid sharp declines in domestic demand and tourism, supply disruptions, and health effects, the Asian Development Bank (ADB) warned in a report on Friday (March 6).
Read more »
S. Korea's central bank burning cash to curb virus spreadIt heats notes to 150°C to disinfect as part of its 'money laundering' routine. FMTNews SouthKorea Virus Epidemic
Read more »
South Korea burns, quarantines bank notes as Covid-19 ragesSEOUL: South Korea’s central bank said on Friday it was quarantining bank notes for two weeks to remove any traces of Covid-19 coronavirus and even burning some as part of efforts to stem the outbreak.
Read more »
A toilet paper run is like a bank run. The economic fixes are about the sameby Alfredo R. Paloyo, University of Wollongong PANIC buying knows no borders. Shoppers in Australia, Japan, Hong Kong and the United States have caugh...
Read more »