Launch of ‘Scale-Up’ series to upskill MSMEs in tier 2 and tier 3 cities across India
2 days residential training program attended by 50 MSMEs
MSMEs to be skilled with latest tech know-how, global best practices and financing
New Delhi, June 2, 2018: YES BANK launches MSME ‘Scale-Up’ series, a unique Industry-Academia collaboration, to upskill MSMEs from Tier 2 and Tier 3 cities. The initiative is aimed at boosting MSME businesses by educating them on latest manufacturing technologies, global best practices and innovative finance management.
The maiden chapter of the Series kicked off in MDI Gurugram, the Training Partner, in collaboration with first Corporate Anchor ‘Spark Minda’. The curriculum of the workshop has been jointly designed by Management Development Institute (MDI) and YES BANK’s MSME subject matter experts. Spanning across 2 days, the residential training program was attended by top 50 promoter-level MSME suppliers of Spark Minda group.
Officials from top MSMEs participate in YES BANK’s MSME ‘Scale-Up’ training program at MDI, Gurugram
Commenting on the initiative 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 providing scale-up trainings through such unique collaboration to promote operational efficiency, digitization and a robust environmental and occupational health & safety performance, thus handholding them to becoming globally competitive.”
Mr. Ashok Minda, Chairman & Group CEO, Spark Minda said, “Indian automotive sector is amidst the era of evolution where next phase of growth lays on world class skilling, financial best practices, time & resource management. Industry till date has been focused on manufacturing, supplying, warehousing and logistics. Imparting the precise skill sets and boosting MSME business amongst the supplier is prudent for the industry as well as for our group. We have collaborated with MDI, Gurugram for training/skilling our 50 suppliers. This joint initiative will impart expertise which is important for the sector at the given hour; such honorable associations are meant to be taken leaps and bounds.”
Dr. Himadri Das, Director, MDI Gurgaon said, “As a pioneer in Management Development Programs in India, MDI Gurgaon is pleased to partner with YES BANK for this unique MSME initiative. This is a classic example of industry-academia partnership where MDI Gurgaon and YES BANK together are providing MSMEs with critical complementary inputs of knowledge capital and financial capital, respectively. The financial capital provided by YES BANK through their lines of credit will be most effectively put to good use by the MSMEs with the knowledge capital provided by MDI Gurgaon through their training programs. These complementary set of inputs will fuel the growth of MSMEs, which are an extremely important component of the Indian economy.”
YES BANK has been working closely with MSMEs across India to handhold them in scaling up operations to become globally competitive, under its flagship MSME initiative ‘Say YES to Sustainable MSMEs in India’. Last year, the bank launched ‘YES GST program’ to help MSMEs understand the impact of changes and prepare them for migration to the new GST tax system. Till date, the bank has conducted 112 awareness workshops, thereby impacting ~9,500 MSMEs through the program. Besides this, he bank recently launched YES GST, an industry first GST backed over draft facility for MSMEs, for faster and hassle free access to working capital finance.
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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