Yes Bank launches Yes MSME with tempting offers
The Yes Bank approved for Yes MSME (Micro, Small and Medium Enterprises) to strengthen the Indian economy with speedy and easy access to funds. The bank will provide ‘curated offerings to address both business and individual needs of MSMEs’.
The Yes MSME is considered as the backbone of the economy that focuses on supporting MSMEs in expanding 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.
The Yes BizConnect, a collaborative solution to build strong market linkages involving over 700 industry associations will also be offered and Yes Spark, offers collateral-free funding up to five crores for start-ups, along with consultancy and enterprise resource planning. They are the key characteristics of the Yes MSME plan.
“The MSME sector is the backbone of the Indian economy and 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. My best wishes to Shri Prashant Kumar, MD & CEO, Yes Bank and team on the efforts to contribute to the larger vision of making India a USD 5 trillion economy by 2024,” said Nitin Gadkari, Union Minister for MSMEs and Road Transport and Highways.