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.
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
First Published: Jun 19 2022 | 2:31 PM IST