Yes Bank transfers a pool of distressed assets to JC Flowers ARC.

Yes Bank, a private sector lender, announced on Monday that it had transferred stressed assets totaling 48,000 crore to JC Flowers Asset Reconstruction Pvt Ltd, clearing the bank’s books of all subpar assets.

Technical write-offs and non-performing exposures make up this pool of stressed assets. According to Yes Bank, it is by far the biggest sale of non-performing assets in the history of Indian banking.

The bank expressed its confidence that JC Flowers ARC will make it possible to realise the assets’ full potential worth. According to the statement, the purchase also enables the bank to gain from recoveries over the present amount.

This news is written by Ms. Amrita Singh, Research Assistant, All India Legal Forum.