Shri Venkiah Naidu Confers Award on Mr. Kapoor in presence of Haryana Chief
Minister Shri M.L. Khattar
Shri M.L. Khattar also awarded SKOCH Award for Excellence in Fresh Initiatives for
the State of Haryana
Mr. Rana Kapoor makes 5 Key Recommendations to Boost Economic Sentiment,
Revive Industrial Growth
New Delhi, September 22, 2015: Mr. Rana Kapoor, MD & CEO, YES BANK and President, ASSOCHAM, was honored with the SKOCH Award for Contributions to Public Policy for Infrastructure and Growth at the 41st SKOCH Summit on Transformative Governance. The Award was conferred by Shri M. Venkaiah Naidu, Hon’ble Union Minister, Urban Development, Housing & Urban Poverty Alleviation, in the presence of Shri Manohar Lal Khattar, Hon’ble Chief Minister of Haryana. Shri M.L. Khattar was also awarded the ‘SKOCH Award for Excellence in Fresh Initiatives’ for the state of Haryana.
On receiving the honor, Mr. Rana Kapoor, MD & CEO, YES BANK and President, ASSOCHAM said, “It is truly humbling for me to receive this key recognition for contribution to Public Policy for Infrastructure and Growth. At YES BANK as well as ASSOCHAM, our endeavor has always been to support, partner and supplement the Government’s efforts to actualize India’s growth potential, in order to transform and significantly enhance India’s socio-economic fabric.”
Addressing the Summit, Mr. Rana Kapoor also said, “I complement the Government for putting in place a significant agenda of Transformative Governance under the bold and decisive leadership of Hon’ble Prime Minister Shri Narendra Modi. Unprecedented strategic initiatives, including Make in India, Digital India, Skill India and Start Up India are key enablers that are progressively transforming India’s business landscape. In this regard, it is particularly heartening to note the recent steps to enhance the ‘Ease of Doing Business’ at both the Central and State levels, as well as the initiative to develop 98 Smart Cities – in my opinion, these vital steps have laid the foundations of a New and Winning India.”
Speaking at the event, Shri M. Venkaiah Naidu, Hon’ble Union Minister, Urban Development, Housing & Urban Poverty Alleviation, said, “India is an island of hope in the global economy. We have tremendous opportunities here; 29 countries have met me and expressed interest to invest here. India is urbanizing with a furious speed, probably the fastest in the world; urban areas are the engines of future growth and the Government is focusing on this critical aspect.”
Shri M.L. Khattar, Hon’ble Chief Minister of Haryana said, “Haryana has taken several transformative steps towards strengthening the governance, education and tourism within the state. We are strengthening the education system by implementing biometric attendance and aligning school records with mid-day meal scheme. The State has also implemented E-Tourism to boost tourism and generate employment as well as created a robust financial planning framework for fast-tracking movement of finance.”
To further boost the current economic sentiment, and provide a fillip to industrial growth, Mr. Rana Kapoor made the following key recommendations:
Monetary Easing to the tune of 75-125 bps over the next 7 monthsto boost domestic investments
Grant infrastructure status to Affordable Housing (AH), Hospitality, Hospitals, Educational Projects;place AH under Priority Sector classification and create a Zoning Process for effective land-use
Enable large cash-rich Public Sector Enterprises to participate in buying out projects, incentivize takeout financing for infrastructure projects and float Smart City Municipal Bonds
Fast track clearances of large infrastructure projectsto revive domestic and international investments; provide stop gap hybrid equity funding as mezzanine facility to ensure stalled projects get completed
Encourage States to form Export Promotion Centers, build Coastal SEZs and rationalize MAT / DDT for SEZs; extend GIFT City concept to 2 important economic centres – ideally Bandra Kurla Complex in Mumbai and one more centre in NCR
ASSOCHAM, under the pragmatic and decisive leadership of Mr. Kapoor, has emerged as a forceful, pro-active, effective and forward-looking institution, which has played a key role as a catalyst between the Government and Industry. Under Mr. Kapoor’s presidency, ASSOCHAM has been widely acknowledged as the Knowledge Chamber of India and has been successful in influencing the Government in shaping India's economic, trade, fiscal and social policies, which will be of benefit to trade and industry.
To further support the Government’s efforts in driving investments to the country, ASSOCHAM has formed the Global Investors’ India Forum, under Mr. Kapoor’s Chairmanship, which aims to attract and mobilize leading global investors, business leaders and Indian policymakers to address investor appetite and concerns and facilitate capital inflows.
As Chairman of YES Institute, Mr. Kapoor has championed several initiatives in smart urban design through concepts of ‘creative economies’, ‘innovation districts’ and ‘land monetization’ models. These concepts focus on effective governance, spatial planning to reduce investment in infrastructure and making urban development self-financing. Under Mr. Kapoor’s guidance, YES BANK has also worked closely with the University of Chicago for their International Innovation Corps (IIC) successful project with DMICDC.
Established in 2008, SKOCH Development Foundation is an autonomous, policy oriented, not for profit policy think tank. The Foundation ensures transparency, accountability and adherence to corporate governance norms. Its main focus is empowering the marginalized and making inclusive development a reality by undertaking various research and grassroots intervention projects.
About YES BANK
YES BANK, India’s fifth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, 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 offers 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.
For further information, please contact:
Ph.: +91 9818394877
Ph.: +91 9810094244