Yes Bank The exchanges on Wednesday issued a clarification denying media reports with reference to the Reserve Bank of India (RBI).reserve Bank of India) Giving in-principle approval to the bank to keep 20% To bet In an asset reconstruction company (arch,

The private lender has called the reports speculative. It said that there is no actual reference to the reports published earlier by the news agencies.

The bank said that as reported earlier, it had initiated the process of partner selection for the ARC by calling an expression of public interest. “At present, the process is underway and at this point of time, there is no binding/effective decision in this regard. We will keep the Exchange(s) informed of all physical developments as required,” the release said.

A BQPrime news report on Tuesday claimed that the RBI had given in-principle approval to the bank to pick up 20% stake in JC Flowers & Co’s ARC.