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Yes Bank AT1 bonds are written off. For the retail customers who were sold these bonds as ‘FD’ like product but only better, it’s been a very short journey from understanding the risks to realising it
On 6th March, RBI put the bank under moratorium and it’s AT1 bonds became worthless
Retail investors were sitting pretty with these bonds because they were sold as risk free instruments that gave better rates compared to FDs. But soon the realisation dawned when the value was written off. This may well be the time when many were made aware of nomenclature
