New Delhi: Paytm, the country's largest e-wallet service provider, is going to enter the banking sector. The owner of the company is preparing to buy a big stake in the private sector major bank Yes Bank. According to the ongoing news in the media, Yes Bank founder Rana Kapoor can sell 9.64 percent stake of himself and the family for Rs 2000 crore. Let us tell you that Rana Kapoor, along with his cousin late Ashok Kapoor, founded the bank. Ashok Kapoor was killed in the 26/11 terrorist attack at the Trident Hotel.
After which a dispute started between Rana Kapoor and Ashok Kapoor's successors. These two groups of promoters together hold around 20 percent in the bank. Rana Kapoor stepped down as its Managing Director and Chief Executive Officer on 31 January 2019 after leading Yes Bank for a long time. In September 2018, the Reserve Bank had directed Rana Kapoor to leave the post by 31 January 2019. According to sources, Paytm CEO Vijay Shekhar Sharma can buy 9.64 percent stake for Rs 1800-2000 crore. Rana Cooper and his family have pledged 60% of Reliance Nippon Asset Management in a 9.64% stake.
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