Yes Bank founder and former MD Rana Kapoor has said that he has no clue about developments which forced Reserve Bank of India to impose a moratorium on the private lender.

"I have not been involved whatsoever with the bank for the past over 13 months...so, have no clue...," Rana Kapoor said.

Once a driving force behind Yes Bank, Rana Kapoor sold his last remaining stake in the private sector lender in November 2019. Promoter entities YES Capital and Morgan Credits had also sold off their stakes at the same time.

Before that, he and his group entities sold 2.16 per cent stake worth Rs 510 crore in Yes Bank through an open market transaction. This was in addition to the stake sale of 1.8 per cent in the same month.

Rana Kapoor was instrumental in taking Yes Bank from scratch to an asset book worth Rs 3.4 lakh crore in just a decade.

However, non-performing assets swelled as the bank's loans extended manifold.

Rana Kapoor's risk-taking capability even paid off for a brief while, taking its stock to an all-time high of Rs 1,400. Notably, Yes Bank share closed 56 per cent lower at Rs 16.20 on BSE on Friday.

The Reserve Bank of India (RBI) on Thursday capped withdrawals by Yes Bank depositors at Rs 50,000 after repeated failures to raise funds. The central bank has also superseded the board of Yes Bank and appointed Prashant Kumar, former Deputy Managing Director and CFO of State Bank of India, as administrator. All hopes now hinge on the RBI, the central government and state-owned financial institutions like SBI and LIC.

The private bank's trouble had started when its NPAs swelled. The bank has also experienced serious governance issues, leading to a steady decline in its market capitalisation.

A foreign banker, Rana Kapoor was well networked in the corporate sector. He used to negotiate most of the deals. Kapoor found his niche in companies that were finding it difficult to get finances from existing lenders. What looked like a masterstroke turned out to be the bank's Achilles heel.

The RBI had appointed former deputy governor R Gandhi to the Yes Bank's board last year amid the leadership turmoil, caused by the central bank's August 2018 action asking co-founder and chief executive Rana Kapoor to step down by January 2019 on corporate governance concerns.