Get into the Root Cause of the Bank's problems and fix the Governance failures. 

This refers to the editorial Breaking the Bond ( BL dated 25/1/23). Saying HC order on Yes bank AT1 bonds problematic without getting into the  bottom of the reasons for Yes Bank's and Regulator's failure in the Governance of bank does not sound prudent  and does not stand justice from an ethical  angle.  The bank's failure in the conduct of its credit portfolio has led to all its  problems and making the investors (including depositors )scapegoats to bear the brunt irrespective of the legal protections the bank enjoys by incorporating safety clauses in the terms and conditions of the bonds issue only smacks of casual approach to its own responsibilities to protect its depositors and its creditors. The bank cannot itself  turn out to be an  NPA by not servicing the interest on bonds and writing down the liability without repayment, when its own advances turn NPA for very obvious reasons other than natural calamities and things like that.

  T.V.Gopalakrishnan

   Personal views.

   Bengaluru 560076.