These two mutual fund schemes are YES Liquid Fund and YES Ultra Short Term Fund.
Yes Bank shares gained 2.5 percent in morning on Tuesday after its asset management company received approval for launch of mutual fund schemes.
"Pursuant to the final regulatory approval (Certificate of Registration) from the Securities & Exchange Board of India (SEBI) to commence its mutual fund business, YES Asset Management (India), the wholly owned subsidiary of the bank has received SEBI approval to launch two mutual fund schemes," the lender said in its filing.
These two mutual fund schemes are YES Liquid Fund and YES Ultra Short Term Fund.
This approval is subsequent to the Reserve Bank of India's (RBI) approval granted to Yes Bank to sponsor a mutual fund followed by SEBI's in-principle approval received subsequently.
Meanwhile, Yes Bank on Monday appointed TS Vijayan as an Additional Director (Independent), with immediate effect.
At 10:00 hours IST, the stock was quoting at Rs 180.45, up Rs 2.45, or 1.38 percent on the BSE.
