MUMBAI:
YES BANK, India’s fourth largest private sector bank, was adjudged as the“Best Bank in Indiafor Small and Medium-Sized Enterprises (SMEs)”at the Asiamoney Best Bank Awards 2018, hosted in Hongkong, by the prestigious global financial publication Asiamoney, part of the Euromoney Group, UK.
YES BANK was adjudged the winner for pioneeringkey initiatives around women-owned enterprises, mentorship programs for SMEs and use of technology for a seamless GST transition. Last year,YES BANK was recognized as the “Best Bank in India for Corporates”and awarded the “Best Bank in India for CSR” award at the ‘Asiamoney Awards-2017’ for initiatives around Green Finance and digital technologies to boost financial inclusion.
Commenting on the development, Rana Kapoor, MD & CEO, YES BANK said, “It is indeed a matter of considerable institutional pride to be recognized on such a highly prestigious global platform, once again. This award further strengthens our endeavor to deliver technology- oriented Banking solutions to millions of MSMEs across the country. Our differentiated initiatives to educate, mentor and fund MSMEs through industry-first offerings like YES GST, developing unique Credit-scoring for MSMEs for accelerated financing, ERP- based payment solutions and the recently launched OD facility against GST-returns filed, reiterates our commitment to strengthen the country’s MSME ecosystem.”
Since inception, YES BANK has been pioneering unique initiatives to address the needs of micro, small and medium-sized enterprises (MSMEs). Over the years, YES BANK has tied up with Overseas Private Investment Corp, the US Government’s development finance institution,as well as IFC, Washington to provide financing and syndicated loans to the tune of $465 million to women-owned businesses and SMEs in low-income Indian states.
Moreover, YES BANK was the 1st Bank to launch a dedicated mobile app for MSME Banking. This industry-first solution provides a single interface for all multiple banking needs of MSMEs, including cash flow management, credit limits and utilization, credit document submission, bulk payments etc.
YES BANK also provides solutions to MSMEs for enhancing their environmental and occupational health & safety performance to help them become globally competitive. The dedicated programs over the last two years have benefitted 12500+ workers in more 1000+ MSMEs and avoided over 6000 metric tons on CO2 emissions. Asiamoney, a leading voice in banking & finance in Asia-Pacific, had designed the awards and the Corporate Client survey to give its readers insights on what makes for a Top Bank among financial market participants in Asia-Pacific— and which firms have the strongest presence in different categories which include the Corporate Client’s Survey ad Corporate Social Responsibility.
