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YES BANK upskills MSMEs to scale-up their businesses

  • 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 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”.

For media queries, please contact:

YES BANK
Alisha Prakash
Ph.: +91 7042662323
Email: alisha.prakash@yesbank.in

Adfactors
Jyothi Goswami
Ph.: Mob: +91 9987036388
Email: jyothi@adfactorspr.com

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