Will support over 300 MSMEs and improve conditions of 7,500 workers
Mumbai, September 21, 2015: After the successful launch of a first of its kind CSR program ‘Say YES to Sustainable MSMEs in India’ in FY 2014-15, YES BANK, India’s 5th largest private sector bank, aims to positively impact 334 MSMEs by scaling up the initiative in FY 2015-16. The program aims to improve working conditions of 7,500 workers in 250 MSMEs through multifaceted Occupational Health & Safety (OHS) interventions and enhance energy efficiency in the range of 15-20% in 84 MSMEs thereby reducing 5,000 metric tonnes of CO2 emissions.
Under the program’s first phase in FY 2014-15, OHS systems were strengthened in 50 foundry MSMEs benefitting 907 workers, and energy efficiency projects were implemented in 20 MSMEs reducing nearly 2,000 Metric Tons of CO2 emissions. For the second phase of the initiative, YES BANK has partnered with Foundation for MSME Clusters (FMC) and Entrepreneurship Development Institute of India (EDII) to scale up the initiative across 9 states including Punjab, Rajasthan, Haryana, Delhi/NCR, Madhya Pradesh, Tamil Nadu, Telangana, Gujarat and West Bengal covering a wider range of manufacturing sectors including foundry, dyeing, rubber, plastic, general engineering and rice mills.
Highlighting YES BANK’s commitment towards catalyzing sustainable growth of MSMEs in India, Mr. Rana Kapoor, MD & CEO, YES BANK, said “MSMEs are a significant contributor to the Indian economy as they account for about 40% of the total exports. This sector has a very important role to play in realizing the Government’s ‘Make in India’ mission and it is imperative that MSMEs achieve manufacturing excellence. YES BANK in line with its Responsible Banking ethos, is committed to supporting the MSME sector and giving it the much needed thrust to put it on a sustainable growth path”
Talking about the first of its kind CSR initiative, Ms Namita Vikas, Senior President and Chief Sustainability Officer, YES BANK, said “Productivity has to emerge as a new national priority, where the efforts of all converge to accelerate the process of economic growth and environmental conservation. This initiative will support MSMEs to adopt best practices in environmental sustainability and occupational health & safety to become globally competitive both in terms of output and efficiency, and thereby help in achieving the Prime Minister’s ‘’Zero Defect, Zero Effect’’ vision”
Mr Mukesh Gulati, Executive Director, Foundation for MSME Clusters (FMC), said “Building on our mutual trust from a previously successful pilot last year, we see this as an opportunity to scale up carbon reduction through energy efficiency measures among 80 MSMEs, and impacting the health and safety of the 7,500 workers. We see this as an opportunity to make India a cleaner and inclusive economy with the support of YES BANK”
Dr. Sunil Shukla, Director, Entrepreneurship Development Institute of India (EDI), said "This is a right step towards enhancing competitiveness and growth of MSMEs operating in clusters in India. Implementing sustainable development through energy efficiency and responsible business practices will support EDI’s mandate of promoting Entrepreneurship and holistic development of existing Enterprises”
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 Finest Quality Large Bank of the World in India” by 2020.
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