NEW DELHI: YES BANK, India’s 4th largest private sector bank, to promote environmental sustainability and occupational health and safety within the Indian MSME sector, launched ‘Say YES to Sustainable MSMEs in India’ in New Delhi on 17th Mar 2015.
A Charter was signed between YES BANK and Foundation of MSME Clusters (FMC) by Ms. Namita Vikas, Senior President & Chief Sustainability Officer, YES BANK and Mr Mukesh Gulati, Executive Director, FMC in the presence of Shri Madhav Lal, Secretary, Ministry of Micro, Small and Medium Enterprises, Govt. of India, Mr Johan Hesse, Minister Counsellor, Head of Operation, Delegation of European Union to India and Mr Arun Maira, Chairperson, FMC.
In collaboration with FMC, European Union, UNIDO, GIZ, GRI, IICA and SIDBI, the initiative ‘Scaling Up Sustainable Development of MSME Clusters in India’ aims to support MSME clusters in India, enabling the adoption of sustainable environment and social business practices.
The initiative, ‘Say YES to Sustainable MSMEs in India’, in its first phase till March 31, 2015, aims at:
- Improving energy efficiency by 15-25% in 20 Foundry MSMEs in Punjab and Uttar Pradesh and reducing coke consumption by 800 Metric Tons per annum, resulting in savings of approximately Rs. 1.1 crore
- Strengthening Occupational Health and Safety (OHS) systems and improving living conditions of workers in 50 Foundry MSMEs
Speaking on the occasion, Mr. Rana Kapoor, Managing Director & CEO, YES BANK said “India’s MSMEs have played a key role in its economic development, accounting for almost 45 % of industrial output and over 8 % of GDP. YES BANK is committed to being a one stop solution provider for the MSME sector by not only catering to all their banking requirements but also enhancing their environmental and occupational health & safety performance to help them become globally competitive thus feeding into the ‘Make in India’ vision of the Government.”
Ms. Namita Vikas, Senior President & Chief Sustainability Officer, YES BANK said “MSMEs will be key to achieving India’s aim of being a global manufacturing hub, thus, there is an immediate need for the MSME sector to adopt best practices in environmental sustainability and occupational health & safety. The Initiative is in line with YES BANK’s Responsible Banking ethos of linking sustainable development with stakeholder value creation and going forward, we aim to scale up the program to other states covering a wider range of manufacturing sectors.”
Mr. Mukesh Gulati, Executive Director, FMC, said "Corporate Social Responsibility (CSR) needs to be understood in a strategic context with a business case which will encourage MSMEs to embed the ethos of responsible business in their every day operations. FMC and our partners are delighted to have been joined by YES BANK, which has led from the front to demonstrate its commitment to the cause of responsible MSMEs, by supporting select foundry enterprises to improve their energy efficiency and occupational health & safety systems. We hope that this will catalyze MSMEs to reach the goal of Zero Defect, Zero Effect."
About YES BANK
YES BANK, India’s 4th largest private sector Bank, is the outcome of the professional & entrepreneurial commitment of its Founder, Rana Kapoor and its top management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India. YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.
YES BANK has a knowledge driven approach to banking, and a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals Bank of India with the long term mission of “Building the Best Quality Bank of the World in India” by 2020.