The Rise and Fall of One of Indias Most Promising Bankers The year was 2004, Indias economy was booming and India Shining seemed like a true slogan. Around the same time, a non-banking financial company applied for and received a licence to operate as a private bank. Yes Bank was born. Its rise was phenomenal and it soon became the fourth-largest private bank in the country, with approved permissions to operate in Singapore, London and Dubai. The returns were also immense: shareholders received hefty dividends on their investments for years on end. That is, till the skeletons began tumbling out of the Yes Bank lockers.
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