Yes Bank likely to sell its NPA portfolio worth Rs 32,344 crore

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In a bid to regain its lost place in the banking industry, Yes Bank is likely to sell its non-performing assets worth Rs 32,344 crore to Asset Reconstruction Companies (ARCs). The private lender has already made provisions for Rs 24,476 crore which represents over 75% of its gross NPA. Sources said the sale proposal has been approved by the bank’s board in order to ensure expeditious recovery and clean-up its balance sheet.

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