Manick Wadhwa
Quick Summary
At the outset, Reserve Bank of Indias efforts in acknowledging and taking timely measures to address the deteriorating financial position of Yes Bank Limited in the interest of the depositors and the public is admirable. In the Draft Yes Bank Ltd. Reconstruction Scheme, 2020, however, the fourth paragraph of clause 6 states thatthe instruments qualifying as Additional Tier 1 capital, issued by the Yes Bank Ltd. under Basel III framework, shall stand written down permanently, in full, with eff
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