With history of bankruptcy, top Yes Bank investor may not meet RBI norms

Erwin Braich's troubled history will make it difficult for him to clear the "fit and proper" criteria for investments in banks, say analysts

Erwin Singh Braich, who has promised to invest $1.2 billion in beleaguered Yes Bank, has a history of failed businesses, bankruptcies, litigation with the Canadian government, police and family dispute over properties, as per court filings. The troubled history will make it difficult to clear the investment and whether Braich will clear the “fit and proper” criteria for investments in banks, say analysts.

Yes Bank has said none of the potential investors will get more than 25 per cent stake in the bank but taking into account, Braich’s investment is worth Rs 8,640 crore as compared to Rs 15,557 crore