YES BANK Signs MoU with NHAI for greening the Mumbai-Nashik-Pimpalgaon Highway
New Delhi, November 22, 2016: YES BANK, India’s fifth largest private sector Bank, has become the first private sector player to enter into a Corporate Social Responsibility (CSR) commitment with the National Highways Authority of India (NHAI) under its ‘Adopt a Green Highway’ program.
Through this partnership, YES BANK is committed to developing green corridors along Mumbai-Nashik-Pimpalgaon Highway. In addition to being the first such greening project undertaken by the private sector, the partnership will also lead to enhancing livelihood opportunities along the highway. The ‘Adopt a Green Highway’ program is an initiative of The National Green Highways Mission (NGHM) under NHAI.
The signing of the MOU between YES BANK and NHAI, which marks the first-of-its-kind collaboration between the private sector and NHAI-NGHM, was held at the National Convention on Innovations in Greening Highways on November 7, 2016, in the presence of Minister of State, Road Transport & Highways, Shipping, Chemical & Fertilizers, Government of India Shri Mansukh Mandaviya, and Shri Raghav Chandra, Chairman, NHAI.
Speaking at the event, Ms. Namita Vikas, Group President & Managing Director, Climate Strategy & Responsible Banking, YES BANK said, “Partnering with NHAI in adopting the Mumbai-Nashik-Pimpalgaon Highway is a natural extension of YES BANK’s commitment to environment sustainability and livelihood, as key pillars of the Bank’s CSR policy. This along with its COP21 commitment of planting two million saplings by 2020 to create a carbon sink, highlights the Bank’s effort in undertaking mutli-sectoral partnerships to initiate projects that have a real impact on the society at large.”
The ‘Adopt a Green Highway’ program engages corporate, public sector units, governmental organizations, institutions and individuals under CSR and Public-Private Partnerships (PPP) for developing green corridors along National Highways.
Dr. A. Bhattacharya, MD, NGHM, said, “Our on-going partnership with YES BANK was further strengthened during the launch of this flagship program in July by the Hon’ble Minister Shri Nitin Gadkari. This MoU between NGHM and YES BANK to adopt a stretch on the Mumbai-Nashik highway, truly demonstrates our shared commitment towards building green infrastructure and combating climate change.”
For the proposed work, NGHM has engaged empanelled agencies to execute plantation and maintenance work. The agencies have been mandated to engage workforce from the local community, thereby enhancing livelihood opportunities. Discussions with other private players are underway for projects under Public-Private Partnership (PPP) model, along with Public Sector Units (PSUs) to undertake greening of highways.
About National Green Highways Mission (NGHM)
The Ministry of Road Transport and Highways (MoRTH), Government of India has promulgated Green Highways (Plantations, Transplantations, Beautification and Maintenance) Policy – 2015. The National Green Highways Mission (NGHM) under National Highways Authority of India (NHAI) has been entrusted with the task of planning, implementation and monitoring roadside plantations along one lakh km network of National Highways in India
About YES BANK
YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 9 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/
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