CURRENT AFFAIRS

Detailed explanation-1: -Yes Bank signs MoU with GIFT City to strengthen fintech ecosystem. The collaboration between GIFT City and Yes Bank will involve organising programmes pertaining to global financial services and giving young fintech innovators a barrage of opportunities within the country.

Detailed explanation-2: -Electrum Fintech Solutions provides an integrated Payments and Spend Management platform-“ZRO” in association with Yes Bank. This is an innovative solution for issuance and management of cards along with a Web Portal for corporates and mobile app for the users.

Detailed explanation-3: -In July 2020, Yes Bank Ltd closed their follow-on public offer (FPO) with 95% subscription, driven by institutional investors. As of 28 July 2020, Yes Bank is an associate of State Bank of India which has a 30% stake in the company.

Detailed explanation-4: -Yes Bank on Tuesday said private equity majors Carlyle Group and Advent have picked up 9.99 per cent stake in the bank.

Detailed explanation-5: -“If you’re getting very excited about Yes Bank and all the stuff that’s happening, remember that the three-year lock-in for 75 percent of the pre-drama shares expires in March 2023, three months from now, ” said Deepak Shenoy, Founder of CapitalMind.