Yes, the bank is in the final stage of negotiations to close the $ 1 billion equity fundraising from Private Equity companies Carlyle and Advent International after an Asset Reconstruction Company (ARC) agreement recently to reduce toxic loans, CNBC TV-18 reported on July 18.

The PE company wants to buy up to 10 percent of each shares in a private loan.

The new bank approved the JC flower bow to become the basic bidder for sales proposed from a collection of loans emphasized by banks in the amount of RS 48,000 Crore.

In accordance with the guidelines issued by the Bank of India Reserve, the Bank proposed to carry out the transparent bid process based on Swiss challenges for the sale of the portfolio using the ARC JC Flowers offer as a basic offer,” he said in an exchange of exchange notification on July 15.

Under the Swiss challenge offer method, the highest offer placed in the first round of the auction is the basic price for other bidders before the second round of auction. Asset reconstruction companies (ARC) or other third parties that place the highest offer in the second round of the auction can be awarded assets, in accordance with the Reserve Bank of India (RBI) guidelines.