RS Poddar

[RS Poddar @rspoddar]

Draft Scheme had an explicit write-off clause. Bondholders objected. Final Scheme REMOVED it. Next morning — Administrator wrote them off anyway. If intent was always write-off, why remove the clause? No answer. We/ My mother deserves one. 3/3
@TamalBandyo
#YesBankAT1Bonds

[RS Poddar @rspoddar]

I am 80 years old. A widow. I invested in
@YesBank
AT1 Bonds from the secondary market. Followed every rule. Today the Supreme Court decides if I get zero or justice. A thread on why the write-off is wrong. 1/3
@nsitharaman
@PMOIndia
@RBI
#YesBankAT1Bonds #AT1Bonds #SupremeCourt

[RS Poddar @rspoddar]

in Basel III @RBI's own framework, loss absorption order is: Eqty 1st → AT1 Bonds 2nd. YBL promoters were diluted, NOT extinguished. We were wiped to ZERO. AT1 holders were treated WORSE than equity holders. That is not Basel III. That is selective application. 2/3
@PMOIndia

[RS Poddar @rspoddar]

Draft Scheme had an explicit write-off clause. Bondholders objected. Final Scheme REMOVED it. Next morning — Administrator wrote them off anyway. If intent was always write-off, why remove the clause? No answer. We/ My mother deserves one. 3/3
@TamalBandyo #YesBankAT1Bonds

[RS Poddar @rspoddar]

@RBI's Basel III says equity absorbs losses FIRST, AT1 bonds SECOND. Yes Bank promoters were diluted, NOT wiped out. Shares survived. My mother taken to ZERO. How is she treated worse than those who caused this collapse? 2/3
#YesBank #BaselIII #CapitalHierarchy @FinMinIndia

[RS Poddar @rspoddar]

I am 80 years old. A widow. I invested in @YesBank AT1 Bonds from the secondary market. Followed every rule. Today the Supreme Court decides if I get zero or justice. A thread on why the write-off is wrong. 1/3
@nsitharaman @PMOIndia @RBI #YesBankAT1Bonds #AT1Bonds #SupremeCourt

[RS Poddar @rspoddar]

@narendramodi ji,
In Yesbank AT1 Bonds Promoters sold out. Defaulters are back. Banks made profits.
FM had said “we won’t let them fall off a cliff.” Yet we bondholders did.
We invested post-tax money, trusting the system.
pls dont punish for believing ! #Nyaya. #DharmaRakha 🇮🇳

[RS Poddar @rspoddar]

This is especially more profound when our FM categorically said on national television "we will not allow the financial institution to fall off a cliff"

[RS Poddar @rspoddar]

It's sad and painfull to see the Modi govt delaying write back of at1 bond holders of yes Bank. The bank is receiving monies from sale to arc and recoveries where as retail investors in these bonds don't even get principal back nor convertion to equity.

#AT1Bonds #YesBank #RBI

[RS Poddar @rspoddar]

It's sad and painfull to see the Modi govt delaying write back of at1 bond holders of yes Bank. The bank is receiving monies from sale to arc and recoveries where as retail investors in these bonds don't even get principal back nor convertion to equity.

#AT1Bonds #YesBank #RBI

[RS Poddar @rspoddar]

It's sad and painfull to see the Modi govt delaying write back of at1 bond holders of yes Bank. The bank is receiving monies from sale to arc and recoveries where as retail investors in these bonds don't even get principal back nor convertion to equity.

#AT1Bonds #YesBank #RBI

[RS Poddar @rspoddar]

@IRCTCofficial So for travel without proper ticket to the he tc will fine you and issue you a receipt. 1. Why can't tc accept digital payment ? 2. How does railways track that this paper is authentic and the money is actually deposited to railways.

[RS Poddar @rspoddar]

@KidZaniaIndia
Your ICICI Bank Credit Card XXXX05 has been used for a transaction of INR 11,210.00 on Jan 27, 2024 at 10:47:24. Info: Imagination edutainmen.

However the page collapsed post payment. can you please ensure correct processing so i can use it tomorrow.

[RS Poddar @rspoddar]

https://t.co/K3qyMW2jCI

[RS Poddar @rspoddar]

@_Mukul 8.51

[RS Poddar @rspoddar]

I’m #hiring for a Senior Banking Partner - Pioneer Banking at IndusInd Bank - Mumbai. Please recommended if you have someone in mind candidate . https://t.co/VyUNomcBDq

[Mukul @_Mukul]

@suchetadalal @RBI Thanks @suchetadalal so much for your help during early days of this fiasco.

BTW, some people are unable to comprehend and are very unhappy.

[Sucheta Dalal @suchetadalal]

This is a huge victory for depositors against thoughtless action by @Rbi #TheGoodFight

[Duggal Sahab @Banker_Babu]

@deepakshenoy Just because it was written off earlier doesn't make it right. Courts do take their own sweet time but unless the bank is filing for bankruptcy they should honour the bond.

[NG @me_nimish]

@deepakshenoy Look at the core of the order first before commenting on it. Basel III clearly states that it's provisions are not applicable when a bank goes down due to corporate governance and fraud. Kindly read

[RS Poddar @rspoddar]

I’m happy to share that I’m starting a new position as Area Manager at IndusInd Bank! https://t.co/WjxENGepNP