Mumbai, June 13, 2016: The Reserve Bank of India (RBI) on June 10, 2016 has notified increase in YES Bank’s Foreign Institutional Investors (FIIs) / Registered Foreign Portfolio Investors (RFPIs) limit to 74% from existing 60% under the Portfolio Investment Scheme (PIS).
This is on the back of
1. Recent approval granted by the Cabinet Committee of Economic Affairs (CCEA) / Foreign Investment Promotion Board (FIPB) to increase YES Bank's total foreign ownership limit to 74% (May 25, 2016).
2. Deregulation of FDI Policy to allow fungibility across FDI/FII/FPI limits.
With this, YES BANK has become FIRST Bank in India to have an operational fully fungible composite foreign ownership limit of 74%.
YES BANK has obtained enabling approval from its Board of Directors to raise an additional USD 1 Billion of Equity Capital which was also approved by the shareholders at the recently held 12th AGM of YES BANK on June 7, 2016.
Link to RBI Press release is: https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=37199
About YES BANK
YES BANK, India’s fourth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India.
YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.
YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “BUILDING INDIA’s FINEST QUALITY LARGE BANK”.
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