Yes Bank Crisis: As the events unfolded on Monday

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Yes Bank crisis Live Updates: CBI carried out searches at seven locations on Monday in connection with the Yes Bank scam pertaining to the Rs 600 crore alleged bribe to the family of its co-founder Rana Kapoor by DHFL

The CBI carried out searches at seven locations on Monday in connection with the Yes Bank scam pertaining to the Rs 600 crore alleged bribe to the family of its co-founder Rana Kapoor by DHFL, officials said. Teams of CBI officers are carrying out operations at the residence and official premises of the accused in Mumbai. The agency has alleged that Kapoor, 62, entered into a criminal conspiracy with Kapil Wadhawan, DHFL promoter for round tripping of funds where loans from Yes Bank to DHFL landed in companies owned by daughters of Kapoor, DoIT Urban Ventures (India) Pvt Ltd, they said.

Rana Kapoor was arrested by the ED after hours of questioning and is in ED custody at the moment.

Yes Bank Crisis Updates

5: 57 PM: Searches underway at DHFL office, office of Doit Urban Ventures (India) Pvt Ltd, office of RKW Developers Pvt Ltd, residence of Rana Kapoor in Worli, residence of Kapil Wadhawan in Bandra West, Rana Kapoor's daughters Rakhi Kapoor Tandon's & Radha Kapoor Khanna's residences.

5:50 PM: CBI issues Look Out Circular against Yes Bank founder Rana Kapoor, his wife Bindu Rana Kapoor, their daughters Roshni Kapoor, Rakhee Kapoor Tandon & Radha Kapoor, chairman-MD of DHFL Kapil Wadhawan, and Director of RKW Developers Pvt Limited Dheeraj Rajesh Kumar Wadhawan.

4.30 PM: Shares of Indiabulls Housing Finance on Monday plunged over 16 per cent after the company said it had an exposure of Rs 662 crore in the form of bonds to Yes Bank. On the BSE, the stock plunged 16.06 per cent to close at Rs 213.55. Intra-day, it lost as much as 19.08 per cent to Rs 205.85.

2.00 PM: S&P Global Ratings on Monday said a quick resolution of Yes Bank's insolvency will keep India's banking sector contagion at bay, but as credit markets tighten there could be a possibility of wider economic pain in the country.

1:50 pm: Rs 50,000 cap on Yes Bank depositors may be lifted by end of week, says Prashant Kumar

“There is absolutely no worry for depositors in the bank. Your money is absolutely safe. The moratorium could be lifted in a few weeks,” crisis-hit Yes Bank’s administrator Prashant Kumar told CNBC-TV18.

He added, “First priority for us is customers. ATMs of other banks are available to Yes Bank customers since Saturday. Our target is to make all banking services available at the earliest.”

1:20 pm: How did Priyanka Gandhi sell a painting they never owned? Amit Malviya asks

12:11 pm: CBI raids DoIT Ventures, the firm belonging to Kapoor's daughters, Roshini Kapoor, Radha Kapoor Khanna and Raakhe Kapoor Tondon.

11:46 am: CBI carries out searches at 7 locations in Mumbai

The CBI carried out searches at seven locations, including Rana Kapoor's house on Monday in connection with the Yes Bank scam pertaining to the Rs 600 crore alleged bribe to the family of its co-founder Rana Kapoor by DHFL.

10:16 am: Yes Bank shares zoom over 30 per cent

Shares of Yes Bank on Monday zoomed over 30 per cent after State Bank of India (SBI) said it will pick up 49 per cent stake in the cash-strapped lender for Rs 2,450 crore.

10:00 am: Company does not hold any additional tier I bonds of Yes Bank, says Shriram Transport

Shriram Transport Finance Company on Monday clarified that it does not hold any additional tier-I bonds of cash-strapped Yes Bank. Clarifying to a news item, Shriram Transport Finance in a regulatory filing said that the "company does not hold any additional tier I bonds of Yes Bank Ltd".

"The instruments qualifying as additional tier-1 capital, issued by Yes Bank under Basel-III framework, shall stand written down permanently, in full, with effect from the appointed date," the draft of the 'Yes Bank Ltd. Reconstruction Scheme, 2020', said.