YES Bank denies any dealing with company of Rana Kapoor's daughters

These allegations come at a time when Kapoor's tenure has been cut short by the RBI and all eyes are trained on finding his successor

YES Bank has denied any dealings with Three Sisters: Institutional Office — the investment vehicle of MD and CEO Rana Kapoor’s daughters. This was in response to clarifications sought by the National Stock Exchange on September 24 based on complaints it had received.

The letter had alleged that the bank was using the firm owned by Kapoor’s daughters as “a conduit to undue benefits for credit exposure”, and that the family office conducted “parallel lending/investment business”. YES Bank replied saying it had no dealing with the firm.  These allegations come at a time when Kapoor’s tenure has been cut short