Mumbai, March 3, 2017: YES BANK has been recognized as the ‘Best Social Bank’ (in the mid-sized Bank category) during the ASSOCHAM 12th Annual Banking Summit cum Social Banking Excellence Awards. The award was presented by Shri Arjun Ram Meghwal, Hon’ble Minister of State, Finance, who graced the occasion as the Chief Guest.
This prestigious award recognizes financial institutions that have been successful in creating a fundamentally strong and resilient social bank, including recognizing the efforts made by the bank in complying with Priority Sector Lending (PSL) norms and Corporate Social Responsibility (CSR) requirements along with creating new opportunities in SME/MSME lending and social infrastructure segment amongst other social banking and financial inclusion initiatives.
Commenting on this achievement, Mr. Rana Kapoor, MD & CEO, YES BANK, said, “At YES BANK, we have innovated and implemented unique, scalable models that have a tangible social impact. We believe it is vital to adopt a holistic, long-term strategy to generate scale and resultant social impact. Through various industry-first initiatives and multi-faceted interventions aimed at financial inclusion, catalyzing growth of MSMEs, skill development and community engagement, YES BANK has evolved as India’s leading Social Bank.”
YES COMMUNITY, YES BANK’s unique community engagement program, serves as a knowledge exchange and awareness platform for communities around its branches on the socially and environmentally pertinent issues of the day. Acting as a community transformation center, each Bank branch works towards building strong relations with communities, thus taking the Bank’s relationship beyond transactional.
Through the YES COMMUNITY program, the Bank forges meaningful partnerships with community groups, non-profit organizations, governments and civil society. Using an inbound and outbound model, the annual YES COMMUNITY calendar aligns regional, internal and external stakeholders for a centrally driven, robust execution at the national level. Through sustained stakeholder feedback, the program continually works towards meeting their expectations from it.
YES COMMUNITY initiatives also align with the Government’s development agenda, like:
- Make in India & Zero Defect, Zero Effect (Example: Say YES to Sustainable MSME)
- Clean India Campaign (Example: YES COMMUNITY, Saaf Suthra Bharat’ campaign)
- Skilled India (Example: YES STEADY- Skills Training and Enhancement for Development of Youth)
YES BANK’s CSR initiative ‘Say YES to Sustainable MSME’ is a unique and first of its kind program, committed to catalyze sustainable growth of MSMEs in India. The program supported 973 MSME clusters by enhancing their energy efficiency and improving their health and safety systems through sensitization workshops, health camps, providing drinking water facilities, first aid kits and distributing personal protective equipments.
Under the initiative, OHS systems were strengthened in 627 MSMEs, benefitting 10,305 workers and energy efficiency projects were implemented in 71 MSMEs, improving their energy efficiency in the range of 15-20%. The project is expected to result in a reduction of more than 6000 Metric Tons of CO2 emission per annum. Additionally, 275 MSMEs benefited from energy efficiency sensitization workshops.
In FY16, YES BANK achieved a 19.98% year-on-year reduction in its Specific GHG emissions and in January 2017, became the first bank globally to migrate to the new ISO 14001: 2015. YES BANK has implemented inclusive, social and branchless banking models to reach out to over 18.8 lakh rural households through 1,55,000 Self Help Groups (SHGs) and its CSR initiatives in the sphere of livelihood & water security and environment sustainability, touched more that 13 million lives, in FY16.
YES BANK is also a benchmark institution for Triple Bottom Line accounting and reporting in India and in FY16, became the first Indian bank to release a Sustainability Report based on the Integrated Reporting guidelines of the International Integrated Reporting Council, while continuing to adhere with GRI G4 guidelines.
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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