Netizens demand arrest of Yes Bank founder Rana Kapoor, who famously called Modi’s demonetisation disaster ‘masterstroke’

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Netizens have demanded the immediate arrest of Yes Bank founder Rana Kapoor, who had famously called Prime Minister Narendra Modi’s demonetisation disaster a ‘masterstroke.’ The demand to arrest Kapoor gained momentum after the government imposed restrictions on withdrawals for Yes Bank depositors.
Rana Kapoor

The RBI on Thursday had imposed a moratorium on the crisis-hit Yes Bank, capping withdrawals at Rs 50,000 per account until 3 April. The Reserve Bank of India also suspended the bank’s Board of Directors.

No sooner did the news spread, depositors rushed to branches of the bank and their ATMs in panic to withdraw money on Friday. Chaotic scenes were witnessed outside Yes Bank and its ATMs on Friday morning. In Mumbai, where the bank is headquartered, the police have tightened the security outside Yes Bank branches.

“We have deployed police personnel outside the bank headquarters, its branch offices and ATM centres in the city to avert any kind of law and order issue,” a spokesperson of the Mumbai Police was quoted by news agency PTI.

Meanwhile, netizens have begun demanding for Kapoor’s arrest. Kapoor, who was forced to step down as the Yes Bank CEO last year in light of bad loans spiralling out of control, had famously hailed the demonetisation announcement by Modi a ‘masterstroke.’  Three days after the demonetisation announcement by Modi caused nationwide chaos, Kapoor had said, “I emphatically welcome the Government’s decision to demonetize Rs 500 Rs 1000 currency notes in circulation in the economy, as bold and revolutionary that will have tectonic impact on the ubiquitous parallel economy in the country. The move will significantly strengthen Government’s systematic efforts over the last two years to curb black money in the economy.”

Here’s how Twitterati reacted after the news of the crisis in Yes Bank became public.





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