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Yes Bank

08/07/2017 Modified 27/12/2018
Yes Bank was incorporated as a Public Limited Company on November 21, 2003. Subsequently, on December 11, 2003, RBI was informed of the participation of three private equity investors namely (Citicorp International Finance Corporation, ChrysCapital II, LLC and AIF Capital Inc.), to achieve the financial closure of the Bank. RBI by their letter dated February 26, 2004 provided their no-objection to the participation of the three private equity investors namely Citicorp International Finance Corporation, ChrysCapital II, LLC and AIF Capital Inc. in the equity of the Bank at 10%, 7,5% and 7.5%, respectively, and also advised the Bank to infuse a sum of Rs. 2000 million as the paid up capital. Additionally, the RBI advised the Bank to submit an application for final approval after completion of all formalities for incorporation as a banking company and setting out the capital structure of the Bank as approved by RBI.
RBI by their letter dated December 29,2003 decided to further extending `In Principle' approval for a period up to February 29, 2004 to allow the Bank to complete all financial arrangements. Yes Bank obtained its certificate of Commencement of Business on January 21, 2004. Subsequently, in March 2004, the Bank achieved the mobilization of the initial minimum paid up capital of Rs. 2,000 million.
As part of the differentiated strategy, Yes Bank has had a strong focus on Development Banking, as is evident from the cutting–edge work that the Bank has done in the area of Food & Agribusiness, Infrastructure, Microfinance, and Sustainability which in most cases has been first–of–its kind in India. Yes Bank has partnered with various companies for delivering quality products and services namely Cash Tech, Cisco Systems, Gartner, Intel, i–flex, Reuters, VSNL, Wipro, De La Rue, Murex, Wincor Nixdorf and Sanovi. The bank also has a widespread branch network of over 331 branches across 200 cities, with over 420 ATM's and 2 National Operating Centres in Mumbai and Gurugram.


#Citicorp, #LIC, #Mumbai, #Gurugram
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