YES Bank gets nod for MF biz


YES Bank on Wednesday announced it has received final approval from SEBI to start its mutual fund business. It has already received clearance from the RBI as well as in-principle approval from the markets regulator. “This will further complement YES Bank’s retail liabilities and wealth management strategy, and also allow YES Bank Asset Management Company (India) (YAMIL) to build on the Bank’s ‘DIGICAL’ distribution network to provide customers a seamless investment and banking experience,” said Rana Kapoor, MD & CEO, YES Bank.

The operational set up for YAMIL, including a robust technology architecture, partnerships for fund accounting and custodian services and registrar and transfer agent services, is already in place, an official release said, adding that a management team has also been recruited.

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