Yes Bank has received an approval from the Reserve Bank of India (RBI) to sponsor a Mutual Fund and to setup an Asset Management Company (AMC) and a Trustee Company. The AMC and the Trust companies shall be set up as wholly owned subsidiaries of the bank. The bank will now apply to SEBI to seek necessary approvals.
The Asset Management Company (AMC) will channelize the savings of retail and institutional investors in equity and debt capital markets. This will complement bank's retail liabilities strategy, and also allow the AMC to leverage the banks distribution network for customer acquisition and provide customers a seamless digical experience for their investments & savings solutions. The Bank will simplify and integrate ‘manufacturing to distribution’ of equity and debt investment products for all its customers.
The AMC will also gain from the Bank's expertise in investment advisory, wealth management solutions, debt capital markets, its significant and growing customer base & distribution network, and overall execution expertise, to build a large and profitable Fund Management franchise.
Yes Bank, India's fifth largest private sector Bank with a pan India presence across alt 29 states and 7 Union Territories of India.
Company Name | CMP |
---|---|
HDFC Bank | 1514.60 |
ICICI Bank | 1114.85 |
Axis Bank | 1171.35 |
Indusind Bank | 1453.50 |
Kotak Mahindra Bank | 1690.65 |
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