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Yes Bank received an approval from the RBI to set up an asset management company

AUM of SBI Mutual Fund is soon likely to cross Rs 1 trillion-mark
Besides, folios held by high networth individuals (HNIs), or those investing Rs 5 lakh or more crossed the 18 lakh mark.
This also marks the first outflow since May 2014, when MFs had pulled out Rs 1,078 crore. Prior to that, they had been continuously infusing money into stock markets.
The industry body has sought more tax incentives on ELSS, pension products and infrastructure debt mutual funds.