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Yes Bank gets RBI’s approval for setting up IBU in GIFT City

Yes Bank has got the approval from RBI for setting up IFSC Banking Units (IBUs) in Gujarat International Finance Tec (GIFT) city.

Yes Bank said in a statement, Establishing the IBU will propel the bank’s growth plans further by providing it access to international financial markets, as well as provide a comprehensive product suite to its corporate clients requiring foreign currency funding.

Rana Kapoor, Yes Bank MD said that, it will also allow the bank to raise foreign currency funding through MTNs and other routes as appropriate.

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