With the RBI (Reserver Bank of India) asking Rana Kapoor, the incumbent Yes Bank managing director and CEO, to step down by January 31, the country’s fourth largest private lender, is unlikely to continue with the ownership of the Dabang Mumbai HC franchise, according to close sources.
The Dabang Mumbai HC is owned and run by Radha Kapoor, daughter of Yes Bank founder Rana Kapoor.
Rana Kapoor, along with his brother-in-law Ashok Kapur, founded YES Bank in 2004, and has been at its helm since then. In a short span, he managed to grow the bank’s corporate and retail loan book aggressively and substantially.
However, the bank had reportedly come under the central bank’s scanner over regulatory and governance issues under Kapoor’s watch and was forced to step down.
Now, while Yes Bank needs to find another successor, The Hockey India Federation will be on an overdrive to find Dabang Mumbai Hockey Club’s successor—which is definitely an uphill task.