Yes Bank gets approval to set up Mutual Fund, Asset Management and Trustee Co.

From Reserve Bank of India

Yes Bank has received approval from the Reserve Bank of India to sponsor a Mutual Fund and to set up a Asset Management Company (AMC) and a Trustee Company. The AMC and the Trustee Companies shall be set up as wholly owned subsidiaries of Yes Bank.

Yes Bank will now apply to SEBI to seek necessary approvals.

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