Many of these investors are individuals whose money in fixed deposits was converted into the AT1 bonds with the promise of a higher return. Many senior citizens fell for the promise, as they were told the bonds were guaranteed by the RBI. Retail investors were lured into AT1 bond investments despite the fact that they were open only to institutional investors.
“After considering a capital infusion of ₹10,000 crore and writedown of Basel III-compliant AT1 bonds aggregating to ₹8,415 crore, the ATI ratio and tier-II ratio are capped at 1.5 per cent and 2 per cent, respectively, if the CET (common equity tier) 1 ratio is below regulatory requirements,” YES Bank said in a media release.
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