Finally managed to revert back to v5 with the massive help of xiaomi's online chat support yesterday. Phew. It was complicated and there were hiccups along the way but luckily got them and the YouTube link posted by AMAT here. Thank you AMAT.
Review after downgrade:
1. Yahoo mail notification is coming in albeit a little slow (not immediate) but I can live with this!

2. Sent a few testing emails and so far the emails are going out and not sitting in my Draft folder.
3. I feel internet is faster. Tested by clicking on same page on my xiaomi and Samsung note 2. On v6, definitely loading was slower compared to my note 2 but now its more or less the same.
4. Definitely improvement in WiFi strength. When on v6, I cannot receive WiFi signal in my bedroom. Need to use my mobile data. But now, I get some signal so I can use internet on my bed though slower only.
Now only thing is after revert to v5, the original Browser (icon is a 'B') is gone. I asked the chat support. She said yes. So I am using Chrome instead. But I prefer the Browser for some features. Anyone knows if can download again? I cannot find it on Play store. Oh yes... After revert to v5, need to download your own Playstore again but the chat support said download all apps in Google Installer (24 of them!). So I downloaded but just wondering I don't, will it affect the performance (thinking of deleting the unused apps to make space).