Business Standard

Sunday, December 29, 2024 | 01:46 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

YES Bank's plan to sell Rs 12,000-cr bad loans to ARC faces delay

RBI wants the bank to avoid any conflict of interest with the ARC as YES Bank plans to hold a minority stake in the same ARC

YES Bank
Premium

YES Bank’s plans to sell the bad debt comes at a time when for the financial year ended March 2022, the bank reported a profit of Rs 1,066 crore after two successive years of heavy losses.

Dev Chatterjee Mumbai
The Reserve Bank of India (RBI) and YES Bank are in discussions over the bank's plans to sell bad loans to an asset rec¬o¬nstruction company (ARC).

YES Bank is planning to sell its bad loans worth Rs 12,000 crore to the ARC to be set up by American financial powerhouse JC Flowers and also hold a stake in the new ARC.

The regulator wants the bank to avoid any conflict of interest with the ARC as YES Bank plans to hold a minority stake in the same ARC. The Swiss challenge to the offer made by JC Flowers is currently pending. JC

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in