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On Wednesday, Yes Bank has said that it has got an in-principle approval from the capital markets regulator Securities and Exchange Board of India (Sebi) to sponsor a mutual fund and to set up an asset management company and a trustee company.
Yes Bank has said in a BSE filing that it “has received an in-principle approval from Sebi to sponsor a Mutual Fund and to setup an asset management company (AMC), and a trustee company. The AMC and the trust company shall be set up as wholly owned subsidiaries of Yes Bank.”
