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Yes Bank’s bailout investors reaped it rich: Will AT1 bond owners get their due?

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Yes Bank’s 2020 rescue stabilised a failing lender — but its outcomes split sharply. SBI turned an INR2,450 crore lifeline into a 3.6x gain, while retail AT1 bondholders were wiped out and remain uncompensated. The case restored systemic stability, but exposed deep gaps in how India balances investor protection with financial safety. 

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