Jun 18: YES Bank, India’s 4th largest private sector lender, on Monday said that it has received final approval and registrationfrom market regulator Securities and Exchange Board of India (SEBI) for acting as ‘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 (Fils) and Foreign Portfolio Investors (FPis).
On receiving the approval, Rana Kapoor, Managing Director & CEO, YES Bank, 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. YES Bank has built state-of-the-art Technology driven infrastructure, integrated with best-in-class Human Capital to offer the finest quality Custodial services to our Capital Market Clients. 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. We re-iterate our commitment towards providing complete financial products suite for all our valued customers.”