Yes Bank gets RBI approval for setting up mutual fund

Yes Bank logoYes 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.

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