Nippon Life India (NAM India) received SEBI's nod to settle the Yes Bank AT-1 bond case for ₹96.76 crore, yet simultaneously reported a 5.9% decline in its Q2 FY27 net profit. This dual development shows a mixed picture for the fund house.
₹205 crore
Net Profit (Q2 FY27)
Q2 FY26: ₹217.7 crore→₹205 crore
⏳ Time Machine
How today’s news fits into the bigger picture
March 2020
Yes Bank AT-1 Bonds Written Down
During the reconstruction of Yes Bank, its worth over ₹8,400 crore were fully written down, causing massive losses for investors, particularly retail ones who were allegedly mis-sold the instruments.
April 2020
SEBI Initiates Probe
SEBI began investigating various entities, including companies, for their role in the mis-selling of Yes Bank's , citing potential violations of norms.
March 2021
RBI Tightens AT-1 Bond Rules
The Reserve Bank of India (RBI) tightened accounting norms for , making them riskier for banks to issue and clearer for investors to understand the write-down features.
October 2025
NAM India Q2 FY26 Profit
Nippon Life India reported a net profit of ₹217.7 crore for Q2 FY26, which is the baseline for the 5.9% decline reported today.
October 2026
SEBI Settlement Approved
NAM India received in-principle approval from SEBI to settle the Yes Bank AT-1 bond case for ₹96.76 crore, providing a partial resolution to the long-standing issue.
Today
Nippon Life India Asset Management received SEBI's approval to settle the Yes Bank AT-1 bond case for ₹96.76 crore, while also reporting a 5.9% profit decline.
What happens next?
NAM India will complete the settlement process and is expected to focus on strategies to improve its core profitability in the coming quarters.
Nippon Life India Asset Management (NAM India) has secured in-principle approval from SEBI to settle the long-running Yes Bank AT-1 bond mis-selling case, agreeing to pay **₹96.76 crore**. This settlement addresses allegations that the fund house mis-sold Additional Tier 1 (AT-1) bonds of Yes Bank, particularly to retail investors, ahead of the bank's reconstruction in 2020. Despite this resolution, NAM India reported a 5.9% decline in its net profit for Q2 FY27, falling to **₹205 crore** from ₹217.7 crore in the previous year. The decline in profit suggests broader market challenges or operational adjustments impacting its financial performance.
💭 If you're wondering…
Mis-selling occurs when a financial product is sold to a customer who doesn't understand its risks, or when the product doesn't align with their financial needs or risk tolerance. This often involves inadequate disclosure of risks by the seller.
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