YES BANK launches ‘Vyapaar Express’ to focus on MSMEs
In association with Makarpura GIDC Industrial Estate Infrastructure & Charitable Association
First in the series of 12 such events across the country, in line with RBI’s mandate on cluster development
Through the event, YES BANK aims to reach out to approx. 10,000 MSMEs across the country
Promoting Govt. backed MSME Scheme of CGTMSE
Vadodara, October 24, 2018: YES BANK, India’s fourth largest private sector Bank, in partnership with Makarpura GIDC Industrial Estate Infrastructure & Charitable Association, announced the launch of its first ‘Vyapaar Express’ – MSME Carnival in Makarpura GIDC at Vadodara in line with the Bank’s commitment to creating an enabling environment for MSMEs. This is the first cluster event in a series of 12 other such events that will be organized across the country.
YES BANK plans to cover over 30 such clusters constituting of over 10,000 MSMEs across the country in FY2018-19 for the 13 markets identified by the Reserve Bank of India.
Through these series of events, YES BANK aims to focus on the banking requirements of MSMEs and provide special offers to facilitate seamless banking through a wide range of retail products to the participating MSMEs such as:
Hassle Free Funding:
Smart Overdraft - Get OD up to INR 1.5 crore without balance sheet. Assessment only basis bank statements
YES GST - 1st GST based financial enabler for MSMEs
Spot Loan Sanction for quick and easy evaluation of financial/ banking needs
Pradhan Mantri Awas Yojana (PMAY) - affordable housing scheme for MSME employees
Special offers for Women Entrepreneurs
API based payments and collection solutions, thus digitizing MSMEs
Lifetime free credit card.
Commenting on the initiative, Sumit Gupta, Group President and Group Head - Rural Banking and Small Medium Enterprises Banking, YES BANK, said “MSMEs are the backbone of the Indian economy, and YES BANK is committed to supporting their growth. As such, through the MSME Carnival, the Bank is focusing on a cluster based lending approach for addressing the diverse needs of the MSME customers in different clusters thereby increasing reach and improving customer serviceability.”
Additionally, the Bank has also partnered with leading Commercial Vehicle and Auto loan dealers for vehicle displays with special offers for visitors. Through the MSME Carnival, the Bank also aims to further the efforts of the Ministry of Micro, Small and Medium Enterprises and Micro and Small Enterprises Cluster Development Programme (MSE-CDP) under the Scheme of Fund for Regeneration of Traditional Industries (SFURTI).
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 29 states and 7 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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