IDFC Bank Sells Power Loans to Edelweiss ARC

It is learnt that IDFC Bank has sold 12 power sector loans of Rupees 2,500 crore to EdelweissNSE - 6.35 % Asset Reconstruction Company (ARC) in a bid to clean its books before its merger with financial company Capital First is effective, two senior officials said.

It is learnt that the list of assets sold to the ARC included VS Lignit, Wind World India and NSL Renewable Power. It is learnt that most banks are worried about the power sector accounts in distress.