RBI says ‘yes’ to Yes Bank’s mutual fund, AMC and trustee company

Yes Bank has today announced that it has got an RBI approval to set up a mutual fund, asset management company (AMC) and a trustee company.

The bank, in a regulatory filing has said, “it has received an approval from the RBI to sponsor a mutual fund, and to set up an asset management company and a trustee company."

It further said, "In its twelfth year of operation, as Yes Bank accelerates into its next phase of growth, this new business initiative will provide further acceleration to Yes Bank's differentiated product offerings."

The bank also informed that the asset management companies and trustee companies will be wholly-owned subsidiaries of Yes Bank.
As published in an Economic Times report, the bank also said that its AMC will channelise savings of retail and institutional investors in equity and debt capital markets.

"This will complement Yes Bank's retail liabilities strategy and also allow the AMC to leverage the Bank's distribution network for customer acquisition," it added.