Why Baba Ramdev doesn’t have a bank account

Patanjali Group founder Baba Ramdev claimed, on Monday, that he doesn’t have a bank account. “There is no need for it,” Baba Ramdev tells Fortune India, while speaking on Patanjali Ayurved’s upcoming follow-on public offering (FPO) for Ruchi Soya Industries Ltd. In December 2019, Patanjali Ayurved had acquired Nutrela-maker Ruchi Soya through an insolvency process. “I don’t have any personal interests (in materialistic things)—watches, cars, mobiles and houses,” says the yoga guru, who is also a non-executive director in Ruchi Soya Industries.