 "YES Bank")
YES Bank on Friday sealed a deal with JC Flowers to set up an asset construction company (ARC), to which the private sector lender will sell Rs 48,000 crore of legacy bad loans through the Swiss challenge method to become a ‘zero-NPA’ bank.
“…the bank has signed a binding term sheet with JCF ARC LLC and JC Flowers Asset Reconstruction Private Limited (JC Flowers ARC) for a strategic partnership in relation to the sale of identified stressed loans of the bank,” YES Bank said in communication to the exchanges.
The term sheet became effective on Friday.
“The bank has decided
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