Saturday, March 07, 2020

We tried to revive Jet Airways: SBI chief Rajnish Kumar

Mumbai: "There were laws, systems, circumstances because of which we could not revive Jet Airways. We tried our best to see that," Kumar said in the backdrop of India's biggest bank's attempts to revive the crisis-ridden Yes Bank.
The SBI Chairman made it clear that it was necessary to distinguish between an individual and organisations. When asked whether the investors would come on board in the wake of Enforcement Directorate (ED) investigations on Rana Kapoor, he said: "Let's distinguish between person and enterprise. Yes Bank is an entity, Rana Kapoor is an individual. If an individual has done wrong, he would have to pay a price."
Meanwhile, the ED has taken Rana Kapoor for questioning. It has also registered a PMLA case against Yes Bank founder Rana Kapoor, whose house was raided by the ED last night. The RBI has placed Yes Bank under moratorium and restricted withdrawals to Rs 50,000, as the central bank assumed control of the troubled private sector lender.
07/03/20 Mrityunjay Bose/Deccan Herald

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