Key obstacle removed with Yes Bank, Axis green signal to RCap's asset sale

The two banks are jointly owed Rs 1,575 cr and had objected to the sale unless their dues are paid. Yes Bank recently moved into Anil Ambani group HQ in Santa Cruz, Mumbai as part of debt settlement

An important hurdle to the sale of Reliance Capital's assets has been removed with Yes Bank and Axis Bank removing the red flag account status of Reliance Capital (RCap) as per the Reserve Bank of India (RBI) guidelines

Both banks jointly have a debt exposure is Rs 1,575 crore and had objected to RCap's asset sale plans unless their dues were paid. Just a few days ago, Yes Bank moved into Anil Ambani group headquarters in Santa Cruz, Mumbai as part of a debt settlement deal with the Ambani group companies.

Yes Bank, with a secured debt exposure of Rs