Rana Kapoor - Revision history

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	== Banking career ==		== Banking career ==
	~~In 1980,~~ Kapoor joined [[Bank of America]] (BoA) as a management trainee~~. In 1990 he~~ was presented the Eagle Pin by the chairman.<ref>{{Cite news\|url= https://www.indiatvnews.com/business/news-rana-kapoor-yes-bank-crisis-money-laundering-enforcement-directorate-pmla-596280 \| title = Who is Rana Kapoor, founder of now crisis-ridden Yes Bank? \| publisher = India TV \| accessdate = Mar 8, 2020}}</ref> He eventually went on to head the wholesale banking business which included several assignments in Asian countries. Kapoor worked at BoA for about 16 years, till 1996, ~~managing~~ corporate, government and financial institution clients. He was awarded the chief executive officer's award by the chairman for his performance. In 1996, Kapoor joined [[ANZ Grindlays]] Investment Bank (ANZIB) as general manager & country head.<ref name="bs_lunch">{{cite news \| url = http://www.business-standard.com/india/news/lunchbs-rana-kapoor/216122/\| title = Lunch with BS: Rana Kapoor \| newspaper = Business Standard India \| date = 8 March 2005 \| publisher = [[Business Standard]]\| access-date = 2010-06-20\| last1 = Bhandari \| first1 = Bhupesh }}</ref> He worked there for two years, until 1998.		Kapoor joined [[Bank of America]] (BoA) as a management trainee in1980, and was presented the Eagle Pin by the chairman two years later.<ref>{{Cite news\|url= https://www.indiatvnews.com/business/news-rana-kapoor-yes-bank-crisis-money-laundering-enforcement-directorate-pmla-596280 \| title = Who is Rana Kapoor, founder of now crisis-ridden Yes Bank? \| publisher = India TV \| accessdate = Mar 8, 2020}}</ref> He eventually went on to head the wholesale banking business which included several assignments in Asian countries. Kapoor worked at BoA for about 16 years, till 1996, where he managed corporate, government and financial institution clients.

			Kapoor later joined [[ANZ Grindlays]] Investment Bank (ANZIB) as general manager & country head in 1996.<ref name="bs_lunch">{{cite news \| url = http://www.business-standard.com/india/news/lunchbs-rana-kapoor/216122/\| title = Lunch with BS: Rana Kapoor \| newspaper = Business Standard India \| date = 8 March 2005 \| publisher = [[Business Standard]]\| access-date = 2010-06-20\| last1 = Bhandari \| first1 = Bhupesh }}</ref> He worked there for two years, until 1998.<ref>{{Cite web\|title=Rana Kapoor\|url=https://www.yesbank.in/pdf/ranakapoorpdf\|url-status=live\|website=Yes Bank}}</ref>

			=== Yes Bank ===
	In February 1995, a team from [[Rabobank]] arrived in India, scouting for opportunities.<ref name="bs_lunch"/> 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. During the next year, Kapoor held meetings with the Rabobank executives in India, Singapore and the Netherlands. The [[NBFC]] was set up in 1997, with the three Indian partners chipping in with an equity capital of {{INRConvert\|90\|m\|year=1997\|lk=r}} each. In 2003, the three sold their stake for $10 million each, generating the seed fund for the bank.<ref name="bs_lunch"/> In 2003, the team was granted a banking license by the Reserve Bank of India (RBI) to set up Yes Bank. They established Yes Bank with the vision of "Building the Best Quality Bank of the world in India" by 2004.<ref>{{Cite web\|title=ABOUT US\|url=https://www.yesbank.in/about-us/overview\|url-status=live\|website=YES BANK}}</ref>		In February 1995, a team from [[Rabobank]] arrived in India, scouting for opportunities.<ref name="bs_lunch"/> 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. During the next year, Kapoor held meetings with the Rabobank executives in India, Singapore and the Netherlands. The [[NBFC]] was set up in 1997, with the three Indian partners chipping in with an equity capital of {{INRConvert\|90\|m\|year=1997\|lk=r}} each. In 2003, the three sold their stake for $10 million each, generating the seed fund for the bank.<ref name="bs_lunch"/> In 2003, the team was granted a banking license by the Reserve Bank of India (RBI) to set up Yes Bank. They established Yes Bank with the vision of "Building the Best Quality Bank of the world in India" by 2004.<ref>{{Cite web\|title=ABOUT US\|url=https://www.yesbank.in/about-us/overview\|url-status=live\|website=YES BANK}}</ref>

>Michaelwallace22: remove multiple issues

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{{Short description|former banker at Yes bank}}
{{Like resume|date=September 2016}}
{{Use Indian English|date=July 2015}}
{{Use dmy dates|date=July 2015}}
{{Infobox person
| name = Rana Kapoor
| image = Rana Kapoor, CEO of Yes bank, at the World Economic Forum on India 2012.jpg
| caption = Kapoor in 2012
| birth_date = {{Birth date and age|df=yes|1957|09|09}}<ref name="GHiscock_2007">{{cite book | title = India's global wealth club | author = Geoff Hiscock | edition = illustrated | publisher = [[John Wiley and Sons]] | year = 2007 | isbn = 978-0-470-82238-8 | page = 255 }}</ref>
| birth_place = [[New Delhi]], India
| nationality = [[Indian people|Indian]]
| education =
| alma_mater = [[University of Delhi]]<br> [[Rutgers University]]
| net_worth = >{{USD|1 billion}} (2017)<br>{{USD|377 million}} (July 2019)<ref name="Times of India">{{cite news |title=Yes Bank founder Rana Kapoor's wealth shrinks by $1 billion |url=https://timesofindia.indiatimes.com/business/india-business/yes-bank-founder-rana-kapoors-wealth-shrinks-by-1-billion-as-lender-tumbles/articleshow/70276845.cms |access-date=31 October 2019 |work=Times of India |date=18 July 2019}}</ref>
| spouse = Bindu Kapoor
| title = Co-founder, [[Yes Bank]]
| children = 3 daughters
| website = {{URL|ranakapoor.in}}
| footnotes =
}}
'''Rana Kapoor''' (born 9 September 1957) is an Indian former banker who served as the Managing Director and CEO of [[Yes Bank]], an Indian private sector bank.<ref>{{Cite news|title=YES Bank's Rana Kapoor felicitated as entrepreneurial banker of the decade|work=Business Today Magazine|url=https://www.businesstoday.in/magazine/cover-story/story/indias-new-business-families-yes-bank-rana-kapoor-18438-2011-04-14}}</ref> Following a career in financial institutions, he co-founded YES Bank in 2003, with its registered office in Mumbai.<ref>{{Cite web|title=Yes Bank Ltd.|url=https://www.wsj.com/market-data/quotes/IN/XNSE/YESBANK/company-people|url-status=live|website=Wall Street Journal}}</ref> He was appointed as the President of [[ASSOCHAM]] in July 2013,<ref>{{Cite news|title=Rana Kapoor takes over as Assocham President|work=The Hindu Businessline|url=https://www.thehindubusinessline.com/economy/Rana-Kapoor-takes-over-as-Assocham-President/article20639624.ece}}</ref> and was succeeded by [[Sunil Kanoria|Sunil Katoria]] after serving his tenure of 2 years.<ref>{{Cite web|title=Sunil Kanoria takes over as new President of ASSOCHAM|url=https://www.assocham.org/newsdetail.php?id=5345|url-status=live|website=ASSOCHAM}}</ref>

Rana Kapoor was arrested on 8 March 2020 by the India's [[Enforcement Directorate]] over accusations of fraud worth over {{USD|100 million}} and is currently in jail.<ref>{{Cite news|last1=Rajput|first1=Rashmi|url=https://economictimes.indiatimes.com/news/politics-and-nation/ed-arrests-yes-bank-founder-rana-kapoor-daughter-stopped-at-mumbai-international-airport/articleshow/74539869.cms?from=mdr|title=ED arrests Yes Bank founder Rana Kapoor; daughter stopped at Mumbai International Airport|date=2020-03-09|work=The Economic Times|access-date=2020-04-26|last2=Yadav|first2=Jaikishan}}</ref>

== Early life and education ==
Kapoor was born on 9 September 1957 and was brought up in [[New Delhi]], India. He attended the [[The Frank Anthony Public School, New Delhi|Frank Anthony Public School]] in [[New Delhi]] in 1973 and earned his [[Bachelor of Arts]] degree from [[Shri Ram College of Commerce]] in 1977.<ref>{{cite news |title=LUNCH WITH BS: Rana Kapoor |url=https://www.business-standard.com/article/opinion/lunch-with-bs-rana-kapoor-105030801008_1.html |date=14 June 2013}}</ref> He then obtained an [[Master of Business Administration|MBA]] from [[Rutgers University]] in [[New Jersey]], US in 1980.<ref name="iba_expo">{{cite web
|url = http://www.iba-banktech.com/RanaKapoor.html
|title = Profile: Rana Kapoor
|work = Banking Technology Conference & Expo.
|publisher = Indian Banks' Association
|access-date = 2010-06-20
|url-status = dead
|archive-url = https://web.archive.org/web/20100419213553/http://www.iba-banktech.com/RanaKapoor.html
|archive-date = 19 April 2010
|df = dmy-all
}}</ref> Kapoor received an honorary fellowship from All India Management Association ([[All India Management Association|AIMA]]), President's Medal from Rutgers University, and an honorary Ph.D. from GB Pant University of Agriculture & Technology.<ref>{{cite news |title=Career timeline of Yes Bank co-founder Rana Kapoor |url=https://www.cnbctv18.com/economy/heres-career-timeline-of-yes-bank-co-founder-rana-kapoor-881861.htm |date=21 September 2018}}</ref><ref>{{cite web |title=Rana Kapoor MD & CEO, YES BANK |url=https://www.huffingtonpost.in/author/rana-kapoor/ |access-date=23 September 2019}}</ref>

== Banking career ==
In 1980, Kapoor joined [[Bank of America]] (BoA) as a management trainee. In 1990 he was presented the Eagle Pin by the chairman.<ref>{{Cite news|url= https://www.indiatvnews.com/business/news-rana-kapoor-yes-bank-crisis-money-laundering-enforcement-directorate-pmla-596280 | title = Who is Rana Kapoor, founder of now crisis-ridden Yes Bank? | publisher = India TV | accessdate = Mar 8, 2020}}</ref> He eventually went on to head the wholesale banking business which included several assignments in Asian countries. Kapoor worked at BoA for about 16 years, till 1996, managing corporate, government and financial institution clients. He was awarded the chief executive officer's award by the chairman for his performance. In 1996, Kapoor joined [[ANZ Grindlays]] Investment Bank (ANZIB) as general manager & country head.<ref name="bs_lunch">{{cite news | url = http://www.business-standard.com/india/news/lunchbs-rana-kapoor/216122/| title = Lunch with BS: Rana Kapoor | newspaper = Business Standard India | date = 8 March 2005 | publisher = [[Business Standard]]| access-date = 2010-06-20| last1 = Bhandari | first1 = Bhupesh }}</ref> He worked there for two years, until 1998.

In February 1995, a team from [[Rabobank]] arrived in India, scouting for opportunities.<ref name="bs_lunch"/> 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. During the next year, Kapoor held meetings with the Rabobank executives in India, Singapore and the Netherlands. The [[NBFC]] was set up in 1997, with the three Indian partners chipping in with an equity capital of {{INRConvert|90|m|year=1997|lk=r}} each. In 2003, the three sold their stake for $10 million each, generating the seed fund for the bank.<ref name="bs_lunch"/> In 2003, the team was granted a banking license by the Reserve Bank of India (RBI) to set up Yes Bank. They established Yes Bank with the vision of "Building the Best Quality Bank of the world in India" by 2004.<ref>{{Cite web|title=ABOUT US|url=https://www.yesbank.in/about-us/overview|url-status=live|website=YES BANK}}</ref>

Rana Kapoor held 26% stake in Yes Bank, Ashok Kapur held 11%, and [[Rabobank]] International held 20% stake.<ref>{{cite web| url = http://www.rediff.com/money/2003/nov/06rabo.htm| title = Rana Kapoor to exit Rabo, take up Yes Bank reins | work = [[Rediff.com]]| date = 2003-11-06 | access-date = 2010-06-20}}</ref> Ashok Kapur died in 2008 in [[2008 Mumbai attacks|Mumbai 26/11 attacks]].<ref name="Ashok Kapur">{{cite news|title=Late Ashok Kapur |url=http://articles.timesofindia.indiatimes.com/2008-11-28/india-business/27894019_1_rana-kapoor-bank-spokesperson-new-generation-private-sector |archive-url=https://archive.today/20130103094617/http://articles.timesofindia.indiatimes.com/2008-11-28/india-business/27894019_1_rana-kapoor-bank-spokesperson-new-generation-private-sector |url-status=dead |archive-date=3 January 2013 |access-date=13 August 2012|newspaper=[[The Times of India]] |date=28 Nov 2008}}</ref>

In 2005, Kapoor was named [[Ernst & Young]]'s ''Start-up Entrepreneur of the Year''.<ref>{{cite web | url = http://getahead.rediff.com/report/2010/mar/15/career-rana-kapoor-the-harder-you-work-the-luckier-you-get.htm | title = The harder you work, the luckier you get | work = [[Rediff.com]]| date = 2010-03-15 | access-date = 2010-06-20}}</ref>

In January 2017, ''[[Bloomberg L.P.|Bloomberg]]'' noted that with the rising share price of Yes Bank, Kapoor had become a billionaire.<ref name="bloomberg1">{{cite web|author=Sterling Wong |url=https://www.bloomberg.com/news/articles/2017-01-19/yes-bank-turns-rana-kapoor-into-billionaire-as-stock-climbs |title=India Just Got a New Billionaire Thanks to Soaring Bank Shares |publisher=[[Bloomberg L.P.|Bloomberg]] |access-date=2017-01-28}}</ref>

In September 2018, Yes Bank announced that they had ordered Kapoor to step down from his CEO position in January 2019. 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.<ref name="Times of India"/>

== Fraud and arrest ==
{{Expand section|date=March 2020}}
On 8 March 2020, the [[Enforcement Directorate]] (ED) registered a case against Kapoor under the [[Prevention of Money Laundering Act, 2002|Prevention of Money Laundering Act]] (PMLA) and he was arrested.<ref>{{Cite news|url=https://www.livemint.com/companies/people/ed-raids-yes-bank-director-rana-kapoor-s-mumbai-residence-11583514816068.html|title=ED registers money laundering case against Rana Kapoor|work=Mint|access-date=2020-03-08}}</ref> The [[Central Bureau of Investigation]] (CBI) also charged Kapoor and his family members in a bribery and money-laundering case linked to Yes Bank.<ref>{{cite news|url=https://www.ndtv.com/india-news/yes-bank-founder-rana-kapoors-wife-daughter-charged-by-cbi-in-alleged-bribery-case-2192282|title=Crisis-Hit Yes Bank Founder Rana Kapoor's Wife, Daughters Charged By CBI|date=9 March 2020|publisher=NDTV}}</ref> Kapoor denies the charges.<ref name="“veconomist”">{{cite news|url=https://www.economist.com/finance-and-economics/2020/03/14/yes-banks-rescue-deepens-worries-about-indian-finance|title=Yes Bank's rescue deepens worries about Indian finance|date=14 March 2020|work=[[The Economist]]}}</ref>

According to the ED, Kapoor, his family members, and others, got benefits worth {{INRConvert|43|b}} through companies controlled by his family as [[Kickback (bribery)|kickbacks]] for sanctioning huge loans through Yes Bank. He is also accused of receiving bribes for going easy on loans given to a few big corporate groups that had turned into [[Non Performing Assets (NPA)|non-performing assets]].<ref>{{Cite web|url=https://www.financialexpress.com/industry/banking-finance/yes-bank-rana-kapoor-bail-plea-coronavirus-yes-bank-fraud-case-news/1918351/|title=No relief for Yes Bank founder Rana Kapoor, court rejects interim bail plea|date=2020-04-03|website=The Financial Express|language=en-US|access-date=2020-04-26}}</ref>

The CBI and ED arrested Kapoor in another case which is the outcome of their investigations in [[Dewan Housing Finance Corporation|DHFL]] Mumbai case of fraud and embezzlement of over $3 Billion,<ref>{{Cite web|url=https://www.managementstudyguide.com/what-is-the-dhfl-scam.htm|title=What is the DHFL Scam?|website=www.managementstudyguide.com|access-date=2020-04-19}}</ref> in which Kapoor was alleged to have received over $100 million in kickbacks over bogus loans extended by Yes Bank to DHFL and the kickbacks were used to purchase expensive properties in Delhi and Mumbai in the name of Kapoor's wife Bindu Kapoor and daughter Roshni Kapoor.<ref>{{Cite web|url=https://www.businesstoday.in/magazine/banking/the-usual-suspect/story/398437.html|title=The Usual Suspect- Business News|website=www.businesstoday.in|access-date=2020-04-19}}</ref>

In May 2020, ED filed a charge sheet and named 7 individuals and 5 companies
Individuals:
• Rana Kapoor
• Bindu Kapoor (W/o Rana Kapoor)
• Roshni Kapoor (Daughter of Rana Kapoor)
• Radha Kapoor (Daughter of Rana Kapoor)
• Rakhee Kapoor (Daughter of Rana Kapoor)
• Dheeraj Wadhawan (DHFL promoter)
• Pankaj Wadhawan (DHFL promoter)

Companies:
• Morgan Credit Pvt. Ltd (MCPL) – a “promoter company of Yes Bank” and owned by Rana Kapoor’s daughters.
• Yes Capital Pvt. Ltd (YCPL) – a “promoter company of Yes Bank” and owned by Rana Kapoor’s daughters.
• RAB Enterprises was an investment company & owned by Rana Kapoor’s wife.
• Dewan Housing Finance Limited
• RKW Developers – owned by Dheeraj Wadhawan
<ref>{{Cite news|url=https://sureshotfinance.com/yes-bank-fraud-case/|title=The YES Bank Fraud case: A story full of tragedies|date=2020-07-12|work=Sure Shot Finance|access-date=2020-07-12}}</ref>

Currently Kapoor is lodged at Taloja Jail, [[Maharashtra]].<ref>{{Cite web|url=https://timesofindia.indiatimes.com/city/mumbai/yes-banks-kapoor-sent-to-taloja-jail/articleshow/74739291.cms|title=Yes Bank's Rana Kapoor sent to Taloja jail {{!}} Mumbai News - Times of India|last1=Mar 21|first1=Rebecca Samervel {{!}} TNN {{!}} Updated|last2=2020|website=The Times of India|language=en|access-date=2020-04-19|last3=Ist|first3=11:05}}</ref> Kapoor's bail application in the [[Prevention of Money Laundering Act, 2002|Prevention of Money Laundering]] case filed on the grounds that he is keeping poor health and is at the risk of contracting [[Coronavirus disease 2019|COVID-19]], was rejected by Mumbai Court in April 2020.<ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/yes-bank-founder-rana-kapoors-interim-bail-plea-rejected/articleshow/74969840.cms?from=mdr|title=Yes Bank founder Rana Kapoor's interim bail plea rejected|date=2020-04-03|work=The Economic Times|access-date=2020-04-19}}</ref>

==Personal life==
Kapoor resides in Mumbai and is married to Bindu Kapoor. They have three daughters, Radha Kapoor Khana, Rakhee Kapoor Tandon, and Roshini Kapoor.<ref name="Radha, Rakhee, Roshini & Anniket">{{cite news|title=Radha, Rakhee & Roshini|url=http://www.weddingsutra.com/blog/index.php/2012/04/04/rana-kapoor-hosts-a-glittering-engagement-ceremony-in-delhi|website=Weddingsutra.com|access-date=4 April 2012}}</ref> The [[Central Bureau of Investigation|CBI]] named his wife, Bindu, and all three daughters, as co-accused in the 2020 case of money laundering.<ref>{{Cite web|url=https://www.businessinsider.in/finance/news/rana-kapoors-daughters-who-said-no-to-banking-are-now-in-the-dock-with-yes-bank-crisis/articleshow/74549729.cms|title=The three Kapoor sisters who said 'no' to banking are now in the dock with Yes Bank crisis|website=Business Insider|access-date=2020-04-26}}</ref>

Ashok Kapur, with whom Kapoor co-founded Yes Bank, was also his wife's brother-in-law.<ref>{{Cite web|url=https://www.sptulsian.com/f/cf/the-story-of-yes-bank---more-than-a-soap-opera|title=THE STORY OF YES BANK - MORE THAN A SOAP OPERA|website=www.sptulsian.com|access-date=2020-04-26}}</ref>

== Awards And achievements ==
* AAAI felicitated Kapoor with the award for pioneering banking & financing solutions to the Media and Communications Industry in the year 2018 <ref>{{Cite web|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/rana-kapoor-felicitated-with-outstanding-brand-builder-award-by-aaai/articleshow/63734769.cms?from=mdr | title= RANA KAPOOR FELICITATED WITH OUTSTANDING BRAND BUILDER AWARD BY AAAI | publisher = The Economic Times | accessdate = May 15, 2019 }}</ref>
* Asian Banker CEO Leadership Achievement Award for India during the 3-Year period, 2011-2013<ref>{{Cite web|url= https://www.prnewswire.com/news-releases/rana-kapoor--yes-bank-receive-top-honours-at-the-asian-banker-leadership-achievement-awards-2013-in-jakarta-indonesia-205768641.html | title = Rana Kapoor & YES BANK Receive Top Honours at the Asian Banker Leadership Achievement Awards 2013 in Jakarta, Indonesia | publisher = PR Newswire | accessdate = May 2, 2013}}</ref>
* Entrepreneurial Banker of the Decade by Bombay Management Association in 2001-2010<ref>{{Cite web|url= https://www.indiainfoline.com/article/news-corporate/rana-kapoor-md-ceo-yes-bank-receives-the-wtc-award-114062400724_1.html | title = Rana Kapoor - MD & CEO, YES BANK receives the WTC Award | publisher = Indiainfolin | accessdate = June 13, 2014 }}</ref>
* Best CEO-BFSI Hall of Fame:2014 IMM-JJ Awards for Excellence
* Received the SKOCH Award for significant contributions to Public Policies for Infrastructure Growth and National Development (2015)
* Exemplary Contribution To Entrepreneurship & Innovation by [[London Business School]]<ref>{{Cite web|url= http://www.businessworld.in/article/London-Business-School-LBS-felicitates-Rana-Kapoor-for-Exemplary-Contribution-to-Entrepreneurship-Innovation-/02-06-2016-98743/ | title = London Business School (LBS) Felicitates Rana Kapoor For "Exemplary Contribution To Entrepreneurship & Innovation" | publisher = Businessworld | accessdate = May 27, 2021}}</ref>

==References==
{{Reflist}}

{{DEFAULTSORT:Kapoor, Rana}}
[[Category:1957 births]]
[[Category:Former billionaires]]
[[Category:Indian bankers]]
[[Category:Living people]]
[[Category:People from Delhi]]
[[Category:Rutgers University alumni]]
[[Category:Shri Ram College of Commerce alumni]]
[[Category:Yes Bank]]