MUMBAI: YES BANK has rolled out YES MSME, a proposition with the aim to strengthen the Micro, Small and Medium Enterprises (MSMEs) with speedy and easy access to funds. This will be facilitated by curated offerings to address both business and individual needs of MSMEs and of new-age entrepreneurs. The YES MSME proposition has been curated, taking into consideration the insights and feedback from customers and industry associations.
The proposition focuses on supporting MSMEs in expandi their business, sustaining momentum, and accelerating growth through solutions across lending, deposits, insurance, customized and segmented digital solutions for retail, manufacturing, wholesale, trade and service providers. This also includes special current account offerings for the self-employed segment.
Nitin Gadkari, Union Minister for MSMEs and Road Transport and Highways, said in a statement, “The MSME sector accounts for 30 per cent of the economy creating 11 crore jobs so far. Investment in the sector is the need of the hour and we are hopeful that concerted efforts by the industry and the Government will help expand it. I congratulate YES BANK for this new addition under their MSME sector initiative and the long-term plan to strengthen the ecosystem.
Prashant Kumar, MD and CEO, YES BANK, said in a statement, “YES BANK remains committed to supporting the growth of this employment-intensive sector and contribute to the growth of the economy. The Bank’s enhanced value proposition will improve access to finance for MSMEs and support their technology upgrade, among other customer-focused measures.”
The five key differentiating elements of the proposition are:
