So familiar because so profitable.

"It was the darling of investors not too long ago. But today Yes Bank finds itself stuck in a strict no-go zone following yesterday's RBI (Reserve Bank) moratorium. Yes Bank emerged as one of the top five private lenders in the country over the last 10 years, riding on heavy bets made by foreign and domestic investors. But in a short span of just 17 months, the shares of Yes Bank have fallen from its lifetime high of Rs 404 in August 2018 to a low of Rs 16.60 today at market closing." In an effort to curb a run on the bank, "The Central Government has imposed a moratorium on Yes Bank effective today, restricting the withdrawal of deposits to Rs 50,000." The RBI may have learnt from its fiasco in September when it "ordered the Punjab and Maharashtra Co-operative (PMC) Bank not to do any business for six months and capped depositor withdrawals at Rs 1,000, throwing the lives of thousands of traders, self-employed and daily wage earners into disarray". The RBI's involvement is not without consequences. "India's move to take control of beleaguered lender Yes Bank Ltd could lead to a plunge in the riskier assets of Asia's third-largest economy, according to analysts. The rescue illustrates the widening damage from India's shadow banking crisis, which has left the lender with a growing pile of bad loans." PMC Bank failed because it lent over Rs 65 billion to Housing Development and Infrastructure Ltd (HDIL). Ex-managing director of PMC Bank Joy Thomas confessed that accounts of the bank were falsified to hide the extent of exposure to HDIL. "The word about Yes Bank in finance circles was that it was a lender which never said no to risky borrowers who had built a highly leveraged position." "As luck would have it, Yes Bank's woes worsened with a series of unexpected defaults hitting it in quick succession, beginning with IL&FS and DHFL." "DHFL and HDIL are realty and housing finance businesses run by two branches of a family. Rakesh Wadhawan of HDIL  is the younger brother of the late Rajesh Wadhawan, whose children Kapil and Dheeraj now run DHFL." "Just how the two companies, run by families that loved the high life -- Bollywood stars for party guests, a phalanx of luxury vehicles, private jets and yachts, vaunted thoroughbreds to signal status, and Russian and Israeli bodyguards to avert harm -- plunged lakhs of ordinary depositors into despair and ruin, is a familiar tale that inspires a sense of deja vu. We have seen this movie before." The Enforcement Directorate (ED) "conducted searches at the Mumbai residence of Yes Bank founder Rana Kapoor", looking for evidence of money laundering, while Finance Minister Nirmala Sitharaman "assured Yes Bank depositors that their money is safe". Government controlled State Bank of India (SBI) will rescue Yes Bank with Rs 24.50 billion, thus transferring its losses from its shareholders to shareholders of SBI. Meanwhile, Rana Kapoor has sold his entire stake in his bank. Doesn't it smell of insider trading? That also is a familiar tale.