YES Bank gets SEBI approval to launch MF business

YES Bank received the final regulatory approval from the Securities & Exchange Board of India (SEBI) to commence its Mutual Fund business, the bank announced on Wednesday. 

The bank, in its press release said that the approval marks a significant milestone in bank’s growing presence in the Indian financial markets. The Bank has also recently received the final license from SEBI to launch its Custodian of Securities business. 

Earlier, the bank indicated that it will be opening Representative Offices in London and Singapore as per the approval from RBI, in addition to its presence in UAE.

On Wednesday, Yes bank closed at Rs. 335.55 per share, down Rs. 1.35 or 0.4 per cent on NSE. The stock opened at Rs. 337 and touched an intraday high of Rs. 337.50 per share on NSE. The stock attracted a traded volume of 45,07,001 shares on NSE.