Rana Kapoor, Founder Promoter at YES BANK. Since 1998, he has been an entrepreneur. In 2004, he founded YES BANK, a private Indian bank that is high-quality and state-of the-art. His vision was to “Build the Finest Quality Large Bank in India”.

His leadership has seen YES BANK grow into the “Professionals Bank of India”, with exemplary business results and financial outcomes. This is evident in the financial results, which have been in place since inception. They also enjoy strong profitability and consistent asset quality.

Rana Kapoor has a Rutgers University MBA (1980) and a University of Delhi Bachelor’s Degree in Economics (Honours (1977).

Rana Kapoor

Rana Kapoor

Rana Kapoor Biography/Wiki

Rana Kapoor, a former Indian banker, was born 9 September 1957. He was the Managing Director and CEO at Yes Bank, an Indian private-sector bank. Sunil Katoria succeeded him after a 2 year tenure.

Rana Kapoor was detained by India’s Enforcement Directorate on 8 March 2020 for fraud amounts exceeding US$100 Million. She is currently in prison.

Rana Kapoor Company Profile

Name: YES Bank

Industry: Banking, Financial services

Founded: In YES Bank

Headquarters: Mumbai, Maharashtra, India

Investment scope: NA

Area Served: PAN India

Revenue: $377 million as of 2020

Website: ranakapoor.in

Wikipedia: wikipedia.org/wiki/Rana_Kapoor

Rana Kapoor Education and early life

Kapoor was born in New Delhi, India on September 9, 1957. Kapoor was born in New Delhi, India at the Frank Anthony Public School. He graduated with a Bachelor of Arts from Shri Ram College of Commerce in New Delhi in 1977. In 1980, he received an MBA from Rutgers University, New Jersey. Kapoor was awarded an honorary fellowship by All India Management Association (AIMA), the President’s Medal of Rutgers University and an honorary Ph.D. at GB Pant University of Agriculture & Technology.

Rana Kapoor Personal life

Kapoor lives in Mumbai with Bindu Kapoor. Their three daughters are Radha Kapoor Khana and Rakhee Kapoor Tindon. Roshini Kapoor is their daughter. In the 2020 money laundering case, the CBI identified his wife, Bindu, along with all three of their daughters as co-accused.

Ashok Kapur, who co-founded Yes Bank with Kapoor, was also his brother-in law.

The Enforcement Directorate (ED), registered a case against Rana Kapoor under the Prevention of Money Laundering Act, and he was taken into custody. The defense lawyer claimed that Rana Kapoor was targeted selectively. Kapoor was also charged by the Central Bureau of Investigation (CBI), along with his family, in a money laundering and bribery case related to Yes Bank. Kapoor denies these charges.

According to the ED Kapoor and his family received benefits of Rs43 billion (US$570m) through companies owned by his family. These benefits were used as kickbacks to approve large loans through Yes Bank. Also, he is accused of accepting bribes to approve loans that were given to large corporate groups and turned into non-performing assets. [24]

Kapoor was arrested by the CBI and ED in another case. This is the result of investigations in DHFL Mumbai fraud and embezzlement over $3 Billion[25]. Kapoor was alleged that he received more than $100 million in kickbacks for bogus loans granted to DHFL by Yes Bank. The kickbacks were used to buy expensive properties in Delhi, Mumbai and in the names of Kapoor’s daughter Roshni Kapoor and wife Bindu Kapoor.

In May 2020, ED filed a charging sheet and named 7 individuals as well as 5 companies. Individuals were: * Rana Kapoor* * Bindu Kapoor(W/o Rana Kapoor), * Roshni Kapoor(Daughter to Rana Kapoor), * Radha Kapoor [Daughter to Rana Kapoor] * Rakhee Kapoor (“Daughter” of Rana Kapoor), * Dheeraj Wadhawan) * Pankaj Wadhawan)

Companies: * Morgan Credit Pvt. Ltd (MCPL), a “promoter bank of Yes Bank” owned by Rana Kapoor and her daughters. * Yes Capital Pvt. Ltd (YCPL), a “promoter bank of Yes Bank” owned by Rana Kapoor and her daughters. Rana Kapoor’s spouse owned RAB Enterprises, an investment company. * Dewan Housing Finance Limited * RKW Developers, owned by Dheeraj Wadhawan

Kapoor is currently in Taloja Jail in Maharashtra. Kapoor’s bail application for the Prevention of Money Laundering Case was filed on the ground that Kapoor is in poor health and runs the risk of contracting COVID-19. The Mumbai Court rejected Kapoor’s bail application.

Rana Kapoor Banking career

Kapoor began his career at Bank of America in 1980 as a management trainee. The chairman presented Kapoor the Eagle Pin two years later. He was eventually appointed to lead the wholesale banking business, which included assignments in Asian countries. Kapoor was with BoA for 16 years. He managed clients from financial institutions, government, and corporate entities until 1996.

Kapoor joined ANZ Grindlays Investment Bank in 1996 as general manager & head of country. He remained there until 1998.

Yes Bank

In February 1995, a team from Rabobank arrived in India, scouting for opportunities.Kapoor, his brother-in-law Ashok Kapoor and Harkirat Singh made a proposal to the visiting team for two joint ventures: a non-banking financial company and a bank. Kapoor met with Rabobank executives in India and Singapore over the course of the next year. In 1997, the NBFC was established with three Indian partners contributing Rs90 million each (equivalent of Rs390 million or US$5.2million in 2020). The three Indian partners sold their stakes for $10 million each in 2003. This created the seed money for the bank. In 2003, the Reserve Bank of India (RBI), granted the team a banking license to establish Yes Bank. The vision to “Build the Best Quality Bank in India” was the goal of Yes Bank.

Rana Kapoor owned 26% of Yes Bank’s stake, Ashok Kapur had 11% and Rabobank International had 20%.

Kapoor was awarded Ernst & Young’s 2005 Start-up Entrepreneur Award.

Bloomberg reported in January 2017 that Kapoor was a billionaire due to the rise of Yes Bank’s share price.

Yes Bank announced in September 2018 that Kapoor would be stepping down as CEO of the bank. The Times of India reported in July 2019 that Kapoor’s net worth has fallen to $377 million, after a 78% drop of the Yes Bank share prices since August 2018.