Rana Kapoor is popularly known as the co-founder, former Managing Director, and CEO of India’s fourth largest private sector bank- YES Bank which ranks just below HDFC Bank, Axis Bank and Kotak Mahindra Bank. He was born into a middle-class family and earned his bachelor’s in Economics at the University of Delhi. After completing his Masters, Mr. Rana Kapoor began his career as an intern at the Citi Bank in New York. It was here that he first saw the possibility of creating a modern and advanced banking system in India. Years later, he achieved his dream. It took decades of hard work, perseverance, and unwavering determination to create one of the most respected private banks in the world.
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 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.
Meet Rana Kapoor: The Man Behind Yes Bank's Journey | Rana Kapoor
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 at 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).
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Rana Kapoor's Awards and recognition
Rana Kapoor was honoured as Ernst & Young's Start-up Entrepreneur of 2005. By 2017, he had achieved billionaire status due to the increasing share price of Yes Bank. Kapoor was awarded an honorary fellowship from the All India Management Association (AIMA), the President's Medal from Rutgers University, and an honorary PhD from GB Pant University of Agriculture & Technology.
Rana Kapoor's Decline and Arrest
Rana Kapoor, a prominent figure in the corporate world, specialized in assisting companies struggling to secure financing from other lenders. However, his fortunes took a downturn in FY17 when YES Bank reported significant discrepancies in bad loans amounting to Rs 6,355 crore for the second time. In September 2018, he was asked to step down as chairman of YES Bank, with Ravneet Gill taking his place.
Following intense questioning lasting over 15 hours, Rana Kapoor, the founder of Yes Bank, was arrested by the Enforcement Directorate on March 8, 2020. This action came shortly after the RBI took control of the bank. The Enforcement Directorate alleges that Kapoor is involved in financial misconduct amounting to approximately $581 million and arrested him under the Prevention of Money Laundering Act (PMLA). Kapoor has denied all allegations against him.
Rana Kapoor stepped out of Taloja jail on April 19, hours after a special court granted him bail in a case registered against him by the Central Bureau of Investigation in connection with allegations that he took a lavish bungalow on New Delhi’s Amrita Shergil Marg for much less its market price as “bribe” in exchange for loan fraud.
YES Bank Shares Jump 8% On Strong Q4 Results
Private sector lender YES Bank‘s shares on Monday saw a strong jump on the back of heavy buying after its strong Q4 FY24 results. Its share price on April 29 opened higher at Rs 27.50 apiece on the NSE and went on to touch an intraday high of Rs 28.55 per share within a few minutes of the stock market opening. Its shares registered an 8 per cent intraday surge on Monday.
ALSO READ: Yes Bank Takes Over Anil Ambani's HQ 'Reliance Centre' Over Unpaid Loans Of Rs 2,892 Crore
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FAQs
He was born into a middle-class family and earned his bachelor's in Economics at the University of Delhi. After completing his Masters, Mr. Rana Kapoor began his career as an intern at the Citi Bank in New York. It was here that he first saw the possibility of creating a modern and advanced banking system in India.
What happened to Rana Kapoor? ›
MUMBAI: Yes Bank founder Rana Kapoor (67) walked out of Taloja Central Prison on Friday after over four years of undertrial incarceration. Special trial judge M G Deshpande of a sessions court granted him bail in the Avantha case, the last of the eight cases he was booked under.
What is the net worth of the owner of YES BANK? ›
In July 2019, the Times of India reported that with a 78% drop in the Yes Bank share price since August 2018, Kapoor's net worth had fallen by over a billion to $377 million.
Who is the CEO of YES BANK? ›
Speaking exclusively and candidly to businessline, Prashant Kumar, MD and CEO, Yes Bank, stated there are issues on the income or the revenue side of the bank's profit and loss statement and these may be more important and urgent to address as compared to those on the cost side.
Who was the former chairman of YES BANK? ›
Rana Kapoor, Founder, Managing Director & CEO, YES BANK receives the 'Entrepreneurial Banker of the Decade' award from Bombay Management Association(BMA) Mumbai, March 11, 2010: Mr.
Is money safe in Yes Bank? ›
According to the latest press release by Yes Bank, its gross advances stood at Rs 2.32 lakh Crs and deposits at Rs 2.09 lakh Crs. It is safe as up and downs is a part of life. RBI also monitoring YES Bank so no need to worry ,your money will be safe.
Who owns Yes Bank? ›
As of March 31, 2023, SBI holds 26.14% of Yes Bank, while LIC holds a 4.34% stake. Axis Bank and ICICI Bank also have a piece of Yes Bank shares aggregating 1.57% and 2.61% respectively. IDFC First Bank holds merely 1% of Yes Bank.
Why did Yes Bank fall? ›
The bank's financial situation was insufficient to raise the capital. There was also a breach in corporate governance at the bank.
Who has major stake in Yes Bank? ›
Ownership Structure
The State Bank of India (SBI), the largest scheduled commercial bank in India, is the largest shareholder, holding 23.99% of the shares. This substantial stake underscores SBI's pivotal role in the Bank's governance and strategic direction.
What is the future of Yes Bank? ›
Yes Bank Q1 results 2024 in focus
Furthermore, the growth seen in Yes Bank's MSME and corporate loan book indicates an expanding lending business. This will help the bank's NIM to remain steady in the medium term, and we do not see any significant compression in the near term.”
Ashok's wife is Madhu Kapur and it was the behest of Ashok that his wife's sister, Bindu got married to Rana Kapoor thus Ashok and Rana became related not just by work but as co-brothers. Ashok Kapur has two children – a daughter Shagun and son, Gaurav. Rana has three daughters – Radha, Rakhee and Roshni.
What is the story behind Yes Bank? ›
Yes Bank Ltd was incorporated on November 21, 2003. The bank was founded by Rana Kapoor. The Bank obtained certificate of commencement of business on January 21, 2004. In the year 2005, they forayed into retail banking with launch of International Gold and Silver debit card in partnership with MasterCard International.
Who is the new CRO of Yes Bank? ›
Mumbai, November 20, 2023: YES BANK today announced the appointment of Mr. Tushar Patankar as Chief Risk Officer (CRO). In his role, Mr. Patankar will be responsible for Enterprise Risk, Credit Policy, Market Risk, Operations Risk Management (ORM), Information Security and all other Pillar II risks of the Bank.
What happened to Divya Rana? ›
After marriage, Divya quit films and goes by the name Salma Manekia and lives with her husband in Dubai, United Arab Emirates.
What had happened to Rishi Kapoor? ›
He died on 30 April 2020 at 8:45 AM IST from recurrence of leukemia. Kapoor's last rites were performed at Chandanwadi Crematorium and his ashes were immersed in Banganga.
What is the controversy with Yes Bank? ›
What is a YES BANK scam case: The case relates to mis-selling of the bank's AT1 (Additional Tier-1) bonds to retail investors by the bank's officials. It was alleged that the bank and certain officials did not inform investors of the risk involved while selling the AT-1 bonds in the secondary market.
What happened to Raj Kapoor? ›
On May 2, 1988, during an awards ceremony at which he received the Indian film industry's highest honour, Kapoor suffered an acute asthma attack and collapsed; he died one month later.
Meet Rana Kapoor: The Man Behind Yes Bank's Journey | Rana Kapoor