Launches startup programme, offering collateral-free funding up to INR
Offers comprehensive, micro-segmented services to provide fillip to the MSME growth story
Facilitates quick and easy access to capital, with lower TAT and minimal documentation
Enhances customer experience with digital innovations across key requirement areas of the sector including incorporation, tax filing, payroll management, human resource technology, ERP, CA support, disbursement and collections
Empowers sector with wider on-ground presence, faster disbursement and knowledge sharing
Partnership with 200+ industry associations, trade bodies and 10+ corporates to take the solution to their members and supply chain partners, thereby expanding reach
The YES MSME proposition 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 proposition was launched virtually by Shri
Stating that the sector has immense potential, Shri
Shri
The proposition reengineers business processes to enhance customer experience, by offering swift access to capital through digital lending and fintech partnerships, and products curated with industry associations that empower the Bank's MSME customers - promoters as well as businesses.
Notably, the innovative startup programme, YES Spark offers collateral-free funding up to INR
Further, the Bank will be able to significantly reduce the turnaround time for processing MSME loans. Other features include pre-approved commercial credit cards, advisory and wealth management solutions along with dedicated relationship managers.
The unique endeavour is yet another step for a meaningful push to increase the GDP contribution of the MSME sector - which came under strain in the aftermath of COVID-19 - from the current 30 per cent to 50 per cent, as the
The five key differentiating elements of the proposition are:
Borrow: Easy borrowing channels with customised funding - government schemes, trade and finance SME initial public offering (IPO), investment banking (IB), a dedicated MSME Cell, parameterised product solutions for ease along with quick fetching of GST/ITR details, enabling faster access
Save: Current account to savings account/fixed deposit sweep; focused programmes - YES Premia, YES First Business and assets-focused loyalty rewards programme
Simplify: Start-up lending up to INR
Partner: YES BizConnect - collaborative solutions to build strong market linkages involving over 700 industry associations; tech-based partner solutions; knowledge sharing via advisories, MSME newsletters and discussion forums
Protect: Business insurance products; individual - life, health, general; wealth solutions and investments
About
For more information, please visit the Bank's website at http://www.yesbank.in/
For media queries, please contact:
Email: mihir.mukherjee1@yesbank.in
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