Yes Bank eyes buyouts |
Yes Bank, which has received a nod from RBI to set up a mutual fund, is eyeing acquisition opportunities in the midsized fund space. Chairman Kapoor is happy that his bank has received approval from the RBI to set up a mutual fund, asset management company (AMC) andtrustee company. The AMC and the trust company will be set up as wholly owned subsidiaries of the bank. It is now in the process of applying to Sebi for a mutual fund licence. Pralay Mondal, senior group president heading retail at Yes Bank, said that the bank wouldbuild up the AMC on its own and with no plan to have a partner.
|
|
|
|