In a significant revelation, the Central Bureau of Investigation (CBI) has stated that Yes Bank incurred losses amounting to ₹2,700 crore due to its financial transactions with companies linked to Anil Ambani’s Reliance Group. The findings are part of the ongoing probe into alleged loan irregularities and fund mismanagement during the tenure of the bank’s former top executives.
According to the CBI, loans extended by Yes Bank to several Anil Ambani–led firms were non-performing or inadequately secured, leading to substantial losses. The agency suspects that portions of these funds were diverted or misused, violating lending norms and risk protocols.
CBI’s Findings and Allegations
Investigators claim that the ₹2,700 crore exposure resulted from a series of credit facilities and structured loans sanctioned without proper due diligence.
The agency alleges that the loans were disbursed despite weak financials and insufficient collateral, in some cases bypassing internal risk assessments.
A CBI source said,
“The loans extended to the Anil Ambani Group entities turned into NPAs, causing massive losses to the bank. The investigation is examining whether there was any quid pro quo or undue benefit involved.”
The agency has already recorded statements from former Yes Bank officials and initiated forensic audits to trace the flow of funds.
Background of the Case
Yes Bank, once a fast-growing private lender, came under scrutiny in 2020 after a surge in bad loans and allegations of corporate favoritism under its then-CEO, Rana Kapoor.
Kapoor was arrested in March 2020 on charges of money laundering and accepting bribes in exchange for sanctioning risky loans.
Anil Ambani’s group companies were among several high-profile borrowers under investigation for questionable loan deals and defaults.
Reliance Group’s Response
While the CBI continues its probe, the Reliance Group has previously denied any wrongdoing, maintaining that all transactions were lawful and conducted transparently.
The group has cited adverse business conditions and industry challenges as reasons for loan defaults, stressing that there was no intent to defraud lenders.
Impact on Yes Bank
The alleged losses of ₹2,700 crore add to Yes Bank’s list of stressed assets, which have already strained its balance sheet in recent years.
Following the 2020 crisis, the RBI and State Bank of India (SBI) led a rescue plan, stabilizing the bank and restoring depositor confidence.
Yes Bank continues efforts to recover dues and strengthen its loan vetting processes under new management.
Ongoing Investigation
The CBI’s latest findings could expand the scope of the probe, potentially implicating additional corporate entities and intermediaries involved in the transactions.
Sources indicate that more financial documents and digital evidence are being examined to determine the extent of irregularities and potential criminal liability.
FAQs
1. What is the Yes Bank–Anil Ambani case about?
It involves alleged irregular loans given by Yes Bank to Anil Ambani–led companies that led to losses of around ₹2,700 crore.
2. Who is being investigated?
The CBI is probing former Yes Bank officials, including ex-CEO Rana Kapoor, and executives from the Reliance Group of companies.
3. What actions has the CBI taken so far?
The agency has conducted searches, recorded statements, and ordered forensic audits of the loan accounts.
4. Has Anil Ambani been charged?
As of now, no formal charges have been announced against him personally, but his companies are under investigation.
5. What is Yes Bank doing now?
The bank, under new leadership, is focusing on recovery of bad loans, compliance strengthening, and financial stability.
Published on : 30th October
Published by : SMITA
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