Mumbai, May 24, 2018: YES BANK, India’s fourth largest private sector bank, has received approval from National Stock Exchange (NSE), India’s largest stock exchange to be empanelled as ‘Settlement Bank’ for National Securities Clearing Corporation Limited (NSCCL), a wholly owned subsidiary of NSE.
YES BANK will provide comprehensive Settlement & Clearing services suitable to the members by leveraging its state-of-the-art Technology platform coupled with superior service excellence and constant innovation. The services will include electronic funds transfer (ETF) facilities and 'anywhere' banking. YES BANK will provide facilities including issuing bank guarantees, credit facilities and inter-bank funds transfer as well as free of cost funds transfer across centers for NSE’s members.
YES BANK is already an empanelled Clearing Bank for the BSE, NCDEX and MCX.
Commenting on the announcement, Rana Kapoor, MD & CEO, YES BANK said, “The empanelment as a Settlement Bank is a strong reinforcement of YES BANK’s pursuit of becoming a front runner in the capital markets payments segment. Our digital innovation including the one-of-its-kind API Banking suite will add significant value to NSCCL and its customers. We believe YES BANK will be a vital partner for this important segment enabling vibrant domestic capital markets which will fuel the next growth phase for our country.”
NSCCL is responsible for clearing and settlement of all trades executed on NSE and deposit and collateral management and risk management functions. It has empaneled banks as members to maintain and operate clearing accounts at the designated clearing bank branches. The clearing accounts are used exclusively for clearing and settlement operations.
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 THE FINEST QUALITY LARGE BANK OF THE WORLD IN INDIA”.
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YES BANK Limited
Ph.: +91 22 3347 9753
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