Yes Bank says not involved in fund management of promoter firms

(Reuters) - Yes Bank Ltd, India's fifth largest private-sector lender by assets, said on Wednesday it was not involved with the fund management of its promoter firms YES Capital (India) Pvt Ltd and Morgan Credits Pvt Ltd. https://reut.rs/2E49Ddm

The statement was in response to an Economic Times report on Wednesday which said these promoter firms routed debt money as equity into private finance companies.

(Reporting By Arnab Paul in Bengaluru)