 "YES bank")
YES Bank said on Friday it has signed an agreement with JCF ARC LLC and JC Flowers Asset Reconstruction (JC Flowers ARC) for a partnership to sell the private lender’s stressed assets estimated worth Rs 48,000 crore.
The bank, in August, 2021 invited applications for setting up an ARC, planning to hold 20 per cent stake in it. On the Reserve Bank of India's (RBI) objection, it agreed to hold a minority stake in the entity.
What went wrong at YES Bank?
The bank was launched on January 21, 2004, by Rana Kapur and his brother-in-law, Ashok Kapoor. In 2005,
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