YES Bank chalks out mega expansion plan

YES Bank is set for a mega expansion drive. The Rana Kapoor-promoted bank plans to foray into retail broking space and also carve out separate subsidiaries for existing banking segments. Besides, the bank is also looking for private equity investments to enlarge and enhance operations. While the retail broking business will be incorporated as a separate entity, YES Securities, the online transaction platform will be branded YES Direct. In fact, the bank is already looking at private equity placement for the new venture.