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    Yes Bank’s foreign investor business gets a boost with Sebi permit

    Yes Bank’s foreign investor business gets a boost with Sebi permit

    Yes Bank’s foreign investor business gets a boost with Sebi permit
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    By CNBC-TV18  IST (Published)

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    “Custodial Services will complement Yes Bank’s existing capital market offerings and enable the bank to play a larger role in channelising domestic and foreign investments into Indian financial markets,” said Rana Kapoor, managing director and CEO in a statement.

    Yes Bank, India’s fourth largest private sector lender, said it has received final approval from market regulator Securities and Exchange Board of India (Sebi) for acting as a “custodian of securities”.
    “Custodian of securities” is a licence given by Sebi that allows entities to offer custodial services to financial market participants including foreign institutional investors (FIIs) and foreign portfolio investors (FPIs). In financial parlance, a custodian is a financial institution that holds customers' securities for safekeeping to minimise the risk of their theft or loss. A custodian holds securities and other assets in electronic or physical form.
    “Custodial Services will complement Yes Bank’s existing capital market offerings and enable the bank to play a larger role in channelising domestic and foreign investments into Indian financial markets,” said Rana Kapoor, managing director and CEO in a statement.
    The bank has leveraged its international reach through an overseas team, creation of an IFSC banking unit in GIFT City in Gujarat and a representative office in Abu Dhabi to woo foreign investors, according to the statement. Yes Bank provides banking services to more than 25 FPIs, said the statement, adding that it is opening representative offices in London and Singapore after approvals from the Reserve Bank of India.
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