CURRENT AFFAIRS

2020

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Rana Kapoor, who has recently been arrested on money laundering charges was the founder of which bank?

A	City Union Bank
B	Dhanlaxmi Bank
C	Axis Bank
D	Yes Bank

Explanation:

Detailed explanation-1: -Delhi High Court on November 25 granted bail to Yes Bank co-founder Rana Kapoor in a Rs 466.51-crore money laundering case registered by the Enforcement Directorate (ED ). Kapoor was arrested by the federal investigating agency under the Prevention of Money Laundering Act (PMLA) in 2020.

Detailed explanation-2: -Actions taken by the Reserve Bank of India against Yes Bank The bank’s financial position was inadequate to raise the capital. Also, there was a lapse in corporate governance at the bank. This Moratorium was a temporary suspension on authorities of lenders.

Detailed explanation-3: -Rana Kapoor, Founder, Managing Director & CEO, YES BANK received the ‘Entrepreneurial Banker of the Decade’ award from the Bombay Management Association today. The award was presented by Mr. K.N. Vaidyanathan, Executive Director, Securities and Exchange Board of India (SEBI) at the 14th Annual Convention in Mumbai.

Detailed explanation-4: -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.

There is 1 question to complete.