More strong recovery steps like Anil Ambani group in order: YES Bank

Bank says will dispose properties in many other cases as well, but does not elaborate on borrowers against whom such action is underway

Private lender YES Bank will take more aggressive steps to recover bad loans like it did in the case the Anil Ambani group, whose headquarters it took over in the financial capital, for failure to repay dues.

“In the coming months, you will see more such instances across various categories of borrowers. In resolution and recoveries, the bank needs to follow due legal process. The bank has initiated action on each and every account (bad loan) for recoveries,” YES Bank CEO Prashant Kumar told Business standard.

The private sector lender took possession of two flats owned by Anil Ambani group