Deal with bondholders 'in process', says Yes Bank administrator

The administrator of India's Yes Bank told Reuters a deal was being discussed with some bondholders who have opposed a state-led rescue, a move that could clear the way for a restructuring of the stricken lender.

"We are in the process," said Prashant Kumar, the administrator appointed by the Reserve Bank of India (RBI), which has taken control of Yes Bank. He added that he hoped a deal would be reached later on Wednesday or on Thursday but declined to provide details of the agreement being discussed.

Under the terms of India's rescue plan, set out earlier this month, the