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Yes Bank has received approval from SEBI, to launch mutual fund business.
The bank stated, “…has received the final regulatory approval (Certificate of Registration) from the Securities & Exchange Board of India (SEBI) to commence the mutual fund business.” The bank has also recently received the final license from SEBI to launch its custodian of securities business.
Further, Rana Kapoor, Managing Director & CEO, Yes Bank stated, “This strategic initiative will further complement Yes Bank’s retail liabilities and wealth management strategy, and also allow YES Asset Management India (YAMIL) to build on the bank’s ‘DIGICAL’ distribution network to provide customers a seamless Investment and Banking experience.”
