Yes Bank has received green signal from the Reserve Bank of India (RBI) to sponsor a Mutual Fund; setup a Asset Management Company (AMC) and a Trustee Company.
The AMC and the Trust Companies shall be set up as wholly owned subsidiaries of YES Bank Limited, the bank said.
Now, the bank will apply to SEBI to seek necessary approvals.
The bank further said, this new business initiative will provide further acceleration to Yes Bank’s differentiated product offerings.
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/
Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram.
Shares of Capri Global Capital Ltd. surged 9 percent to an intraday high of ₹260.85 on Wednesday, extending… Read more →
BharatPe is set to appoint Yugal Tiwari, former Senior Vice President – Product at Paytm, as its Chief… Read more →
Ketan Merchant’s tenure as Interim Chief Executive Officer at Fino Payments Bank Ltd has been extended for another… Read more →
Bank of Baroda, India’s International Bank, has announced the launch of UPI Global Reverse Acceptance, enabling international tourists,… Read more →
InCred Capital has launched InCred Black, a specialised wealth management platform designed for ultra-high-net-worth individuals (UHNIs), unicorn founders,… Read more →
Cashfree Payments has launched Relay, an AI-powered “Super Agents” platform designed to automate end-to-end payment operations for small… Read more →
