STOCK MARKET BSE NSE

Yes Bank crisis: CBI begins probe, starts collecting documents, say sources

The Central Bureau of Investigation (CBI) is looking into aspects of alleged criminal conspiracy, cheating and corruption.

Published: 08th March 2020 07:25 PM  |   Last Updated: 08th March 2020 07:25 PM   |  A+A-

Customers walking without cash in Yes Bank at Triplicane after the RBI placed restrictions on the private lender

Customers walking without cash in Yes Bank at Triplicane after the RBI placed restrictions on the private lender. (Photo| Ashwin Prasath, EPS)

By PTI

NEW DELHI: The CBI has begun a probe into the Yes Bank affairs as officials started collecting documents in the matter, sources said on Sunday.

According to them, the officials have refused to offer comments on the development as the probe agency wants complete secrecy before any search that it might be planning.

The sources refused to elaborate on the nature of the probe -- preliminary enquiry or an FIR -- or people arraigned but affirmed that a formal investigation has begun.

The Central Bureau of Investigation (CBI) is looking into aspects of alleged criminal conspiracy, cheating and corruption, they said.

ALSO READ: Mumbai court sends founder Rana Kapoor to ED custody till March 11

The relations between the scam-hit DHFL and Yes Bank are understood to be under the scanner of the CBI with some questionable financial transactions involving a third company, a source said.

The Enforcement Directorate has already arrested 62-year old Yes Bank co-founder Rana Kapoor in the matter under money-laundering charges.

The Reserve Bank of India (RBI) on Thursday had imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account, and superseded the board of the private sector lender with immediate effect.

Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment.

According to the RBI's draft reconstruction scheme, the State Bank of India will pick up 49 per cent stake in the crisis-ridden Yes Bank under a government-approved bailout plan.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp