Who is Rana Kapoor

Rana Kapoor

Who is Rana Kapoor
Who is Rana Kapoor
Rana Kapoor is a co-founder and former managing director and chief executive of YES Bank. Born in 1957 in Delhi, Kapoor started his professional journey as a junior banker in Bank of America's Barakhamba branch in New Delhi.
 
Rana Kapoor's journey as a banker
 
Rana Kapoor started as a junior banker in Bank of America's Barakhamba branch. He worked with BoA for 16 years, until 1996. After his stint as the general manager and country head in ANZ Grindlays from 1996-1998, Kapoor joined his brother-in-law Ashok Kapur and Harkirat Singh to form Rabo India Finance, an NBFC in 1998. All the three partners had 25 per cent equity whereas the rest 75 per cent equity was with the Netherlands headquartered Rabobank. Ashok, Rana and Harkirat sold their equity in the venture in 2003 and got the license to set up a private sector bank in the same year. In 2004, YES Bank got off the ground. In September 2018, Yes Bank ordered Kapoor to step down as CEO in January 2019.
 
Rana Kapoor's fall and arrest
 
Kapoor was well-networked in the corporate sector and he found his niche in companies that were finding it difficult to get financing from other existing lenders. However, he lost the battle in FY17. This was the second time that YES Bank reported a gross divergence in bad loans of Rs 6,355 crore. In September 2018, he was asked to step down as the chairman of YES Bank and was replaced by Ravneet Gill.
 
After being grilled for more than 15 hours, Yes Bank founder Rana Kapoor was placed under arrest by the Enforcement Directorate early on March 8, 2020, days after RBI seized control of the lender. The Enforcement Directorate claimed that Kapoor's crime amounts to around $581 million, and arrested him under the Prevention of Money Laundering Act (PMLA). Kapoor has denied all charges against him.
 
Rana Kapoor's personal life
 
Born and brought up in New Delhi, the banker is married to Bindu Kapoor. They have 3 daughters together - Radha, Rakhee and Roshini.
Rana Kapoor's education
 
He completed his schooling from Frank Anthony Public School, New Delhi in 1973 and went on to earn his BA degree from Shri Ram College of Commerce, Delhi University (1977).
 
He then got an MBA degree from Rutgers University in the US.
 
Awards and recognition
 
Rana Kapoor was named Ernst & Young's Start-up Entrepreneur of 2005. By 2017, he had become a billionaire with the rising share price of Yes Bank. He received an honorary fellowship from All India Management Association (AIMA), President's Medal from Rutgers University, an honorary PhD from GB Pant University of Agriculture & Technology.
 
YES Bank crisis explained?
 
YES Bank’s loan book on March 31, 2014, was Rs 55,633 crore, and its deposits were Rs 74,192 crore. Since then, the loan book has grown to nearly four times as much, at Rs 2.25 trillion as on September 30, 2019. While deposit growth failed to keep pace and increased at less than three times to Rs 2.10 trillion. The bank’s asset quality also worsened and it came under regulator RBI’s scanner. YES Bank has substantial exposure to several troubled borrowers, including the Anil Ambani-led Reliance group, DHFL and IL&FS. The tipping point came when one of the bank’s independent directors Uttam Prakash Agarwal, resigned from the board in January 2020 citing governance issues.

Latest Updates on Rana Kapoor

Sebi orders defreezing of bank, demat accounts, MF folios of Rana Kapoor

3 min read Last Updated :Oct 25 2023 | 11:24 PM IST
Image
Rana Kapoor gets relief from SAT; Bain Capital sells 2.82% in L&T Finance

2 min read Last Updated :Sep 12 2023 | 10:13 PM IST
Image
SC rejects YES Bank founder Rana Kapoor's bail in money laundering case

2 min read Last Updated :Aug 04 2023 | 12:21 PM IST
Image
SAT declines to grant any immediate relief to Yes Bank's Rana Kapoor

1 min read Last Updated :Jul 31 2023 | 9:12 PM IST
Image
DHFL money laundering case: HC denies bail to Yes Bank founder Rana Kapoor

2 min read Last Updated :May 04 2023 | 9:32 PM IST
Image
Rana Kapoor gets bail in loan diversion; to stay in jail on multiple cases

2 min read Last Updated :Apr 01 2023 | 10:23 PM IST
Image
Delhi High Court grants bail to Rana Kapoor in money laundering case

1 min read Last Updated :Nov 25 2022 | 12:18 PM IST
Image
CBI files chargesheet against Rana Kapoor, Gautam Thapar in bank fraud case

2 min read Last Updated :Sep 20 2022 | 6:29 AM IST
Image
CBI files charge sheet against Rana Kapoor, Gautam Thapar in Yes Bank fraud

1 min read Last Updated :Sep 19 2022 | 11:00 PM IST
Image
Sebi imposes Rs 2 crore penalty on Rana Kapoor in AT1 bonds case

2 min read Last Updated :Sep 07 2022 | 11:31 PM IST
Image
Sebi imposes Rs 2 cr fine on Rana Kapoor in YES Bank AT-1 bonds case

3 min read Last Updated :Sep 07 2022 | 7:07 PM IST
Image
India at 75: Gupta to Mallya - 6 leaders who began well but lost their way

5 min read Last Updated :Aug 12 2022 | 12:35 PM IST
Image
YES Bank's stressed loan portfolio: Understanding what went wrong at lender

2 min read Last Updated :Jul 15 2022 | 12:39 PM IST
Image
Bhosale allegedly received 'kickbacks' to facilitate loans from DHFL: CBI

3 min read Last Updated :Jun 03 2022 | 1:18 AM IST
Image
5 days after arrest, Bhosale sent to CBI custody till June 8 in graft case

3 min read Last Updated :May 31 2022 | 9:16 PM IST
Image
CBI arrests ABIL group chairman Avinash Bhosale in Yes Bank-DHFL scam case

3 min read Last Updated :May 27 2022 | 12:16 AM IST
Image
Cong rubbishes Rana Kapoor's Husain painting charge as political vendetta

4 min read Last Updated :Apr 25 2022 | 12:28 AM IST
Image
Forced to buy painting from Priyanka Gandhi: Rana Kapoor in ED chargesheet

6 min read Last Updated :Apr 23 2022 | 10:34 PM IST
Image
Yes Bank's Rank Kapoor, DHFL's Wadhwans siphoned off Rs 5,050 cr: ED

4 min read Last Updated :Apr 23 2022 | 3:12 PM IST
Image
CBI quizzes Rana Kapoor in Rs 466-crore scam involving Gautam Thapar

3 min read Last Updated :Apr 12 2022 | 12:25 AM IST
Image