Supreme Court: RBI Was Bystander to YES Bank's Secret Business
The Supreme Court ruled that the Reserve Bank of India (RBI) was merely a bystander when YES Bank conducted clandestine business activities. This ruling has unsettled YES Bank investors, causing shares to drop 15%. Following the decision, Kotak and Nippon halted further investments. The court's judgment impacts YES Bank's risk equity capital and marks a significant victory for AT-1 bondholders who lost savings six years ago.
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