Should Yes Bank have been allowed to be declared insolvent?

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At first blush, the idea seems outrageous. As a matter of policy, the Reserve Bank of India (RBI) has never allowed any major bank to be declared bankrupt. Nedungadi Bank was given to Punjab National Bank, ICICI Bank was instructed to take responsibility of Bank of Rajasthan and a conservative Oriental Bank of Commerce was asked to take over an overly aggressive Global Trust Bank.

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