<div>Yes Bank has received approval from RBI to set up IFSC Banking Units (IBUs) in Gujarat International Finance Tec (GIFT) city.</div><div> </div><div>Establishing the IBU will propel the bank's growth plans further by providing it access to international financial markets, as well as provide a comprehensive product suite to its corporate clients requiring foreign currency funding, Yes Bank said in a statement on Tuesday (14 July).</div><div> </div><div>It will also allow the bank to raise foreign currency funding through MTNs and other routes as appropriate, Yes Bank MD Rana Kapoor said.</div><div> </div><div>He added, it will help in further diversification and expansion of cross border asset products as well as widen the scope and depth of liabilities base.<br><br>(PTI)</div>
