Private sector lender Yes Bank has inked a term sheet with JC Flowers Asset Reconstruction (ARC) for the sale of identified stressed loans of the bank aggregating to up to Rs 48,000 crore, it said in a stock exchange filing on Friday (July 15).

The lender has decided that the JC Flowers ARC will be the base bidder for a proposed sale of an identified stressed loan portfolio of the bank aggregating to up to Rs 48,000 crore.

“In accordance with the guidelines issued by the Reserve Bank of India, the Bank proposes to run a transparent bidding process on Swiss Challenge basis for sale of such portfolio using the JC Flowers ARC’s bid as the base bid,” it said in an exchange filing.