Ways2Capital Reviews : Yes Bank Receives Custodian Of Securities Business License From SEBI

Yes Bank, India’s 4th largest private sector bank, has received final approval and registration from the Securities and Exchange Board of India (SEBI) for acting as a "Custodian of Securities."

Custodian of Securities is a license granted by SEBI to eligible entities allowing them to offer custodial services to financial market participants including Foreign Institutional Investors (FIIs) and Foreign Portfolio Investors (FPIs).

On receiving the approval from SEBI, Rana Kapoor, Yes Bank's Managing Director & CEO said, “Custodial Services will complement Yes Bank’s existing capital market offerings and enable the bank to play a larger role in channelizing domestic and foreign investments into Indian financial markets. This approval is a reflection of Yes Bank’s growing presence in Indian financial markets and increasing market share over the last 14 years since inception."

Yes Bank has leveraged its international reach through its international banking team, IFSC Banking Unit in GIFT City and its representative office in Abu Dhabi as a part of the bank’s strategy of becoming the leading "host country" bank for foreign investors. The Bank also plans to open its representative offices in London and Singapore, as per the recent approval granted by the RBI.
 
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About Bhoomi Desai

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