Congress sees scam in RBI's Yes Bank bailout; mum on Vadra art sale to 'tainted promoter'

Congress spokesperson Manish Tewari on Wednesday took a jibe at Reserve Bank of India over Yes Bank crisis. Taking to Twitter Tewari called RBI's 'bailout pack' for Yes Bank a scam. He also mentioned that because of RBI's decision of letting State Bank of India reconstruct Yes Bank, it is putting SBI at greater risk. 

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Yes Bank crisis

Yes Bank which has been facing a crisis as it accumulated many bad loans in 2018 by lending to corporate defaulters such as DHFL, Jet Airways and Cafe Coffee day, was put on a moratorium by RBI for a period of 30 days, capping its withdrawals at Rs 50,000. RBI has also anunced ‘Yes Bank Ltd. Reconstruction Scheme, 2020’ altering authorised capital to Rs 5,000 crores and 2,400 equity shares standing at Rs 10 each. Moreover, SBI which leads consortium of banks investing in 'reconstructed bank' will t reduce its holding below 26% before completion of three years.

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ED probe into Rana Kapoor

As per reports, Enforcement Directorate is investigating case of alleged kickbacks of Rs 600 crore received by a shell company controlled by Yes Bank founder and his two daughters. Media reports suggest that shell company Doit Urban Ventures received kickbacks from Dewan Housing Financial Corporation Ltd (DHFL) for loans worth Rs 4,450 crore granted by Yes Bank. He is in ED's custody after his arrest on Sunday till March 11. CBI too has registered a case against Kapoor, with a lookout tice against all Kapoor family members.

Tewari, in his criticism, however, made mention of painting of Rajiv Gandhi that Rana Kapoor bought from Priyanka Vadra for an alleged Rs 2 crore, which has been seized by ED, and of which Kapoor has said that he was 'pressurised' into buying.

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