Yes Bank RBI

Hi I would like to know the details of the approval given to Yes bank for setting up of Mutual Fund, Asset Management and Trustee Co?

[Shaleen]

YES BANK, India's fifth biggest private division Bank, has gotten endorsement from the Reserve Bank of India to support a Mutual Fund and to setup an Asset Management Company (AMC), and a Trustee Company. The AMC and the Trust Companies will be set up as completely claimed backups of YES Bank Limited.

Yes Bank will now apply to SEBI to look for essential endorsements.

The Asset Management Company (AMC) will channelize the reserve funds of retail and institutional speculators in value and obligation capital markets. This will supplement YES BANK's retail liabilities procedure, furthermore permit the AMC to influence the bank's dissemination system for client procurement, and give clients a consistent digical experience for their ventures and reserve funds arrangements. The Bank will streamline and coordinate "assembling to conveyance" of value and obligation venture items for every one of its clients.

The AMC will likewise pick up from the Bank's ability in speculation admonitory, riches administration arrangements, obligation capital markets, its critical and developing client base and circulation system, and general execution aptitude, to manufacture a substantial and productive Fund Management establishment.

In its twelfth year of operations, as YES BANK quickens into its next period of development, this new business activity will give advance speeding up to YES BANK's separated item offerings to its clients.

Address:

Corporate Headquarters:
YES BANK Limited, Nehru Centre, 9th floor,
Discovery of India, Dr. A.B. Road, Worli,
Mumbai – 400 018, India.
Tel: +91 (22) 6669 9000
Fax: +91 (22) 2490 0314