Yes Bank Crisis: ED Summons Anil Ambani In Probe Against Rana Kapoor

The Enforcement Directorate has reportedly summoned industrialist Anil Ambani in connection with its money-laundering investigation against the promoter of Yes Bank, Rana Kapoor, his family members and associates, according to leading television news channels.

Following the debacle of Yes Bank, the ED conducted raids at multiple locations and interrogated the bank's promoter Rana Kapoor and his family members.

Rana Kapoor's daughter was also stopped at the Mumbai airport before she could board a London-bound flight. Lookout notices have been issued against Rana Kapoor's wife and daughters, media reports said.

Meanwhile, in a process of restructuring the bank, as announced by Union Finance Minister Nirmala Seetharaman, the State bank of India (SBI), ICICI and HDFC have stepped in to shore up Yes Bank's finances and keep the institution afloat. The country's premier bank, SBI, pumped in the highest amount in terms of infusion into the beleaguered bank—over Rs.6,000 crores.

The government's idea appears to be to ensure that the depositor base of Yes Bank remains intact and gets further consolidated. Analysts say that this will hinge on the extent to which the bank can focus on its turnaround and immediate plans of revival.

Yes Bank has already lost over Rs. 70,000 crores worth of deposits, according to media reports.