Short, small and in the country Medium industries(MSMEs) and Annie Funding To do this, the private sector Yes Bank has launched the YES MSME Initiative. Through this initiative, Yes Bank will easily and very quickly provide funds to companies in the MSME sector. The bank said in a statement that MSME’s both private and business needs would be met. At the same time, it will help the new generation of entrepreneurs to expand their capabilities. The bank said its YES MSME will help small businesses grow and grow their businesses.
Under the YES MSME Initiative, Yes Bank has announced a loan of up to Rs 5 crore to the startup without any collateral free loans. This is why the bank has decided to reduce the loan processing time for MSMEs. That is why it has announced to facilitate dedicated relationship managers with solutions.
30% participation of MSME sector in Indian economy
At the launch of the YES MSME Initiative, MSMEs Minister and Union Transport Minister Nitin Gadkari said that the MSME sector is the backbone of the Indian economy and has a 30% share in the Indian economy. The sector has so far provided 11 crore jobs. Investment in this sector needs time and we hope that with the help of industry and government this sector will expand.
4 Special Talks of YES MSME Initiative
- Yas Bank will provide easy channels for MSMEs to take loans and customize funding. Through this, MSMEs will invest in government chemos and the bank will also help MSMEs in bringing in IPOs.
- MSMEs and startups will allow accounts to be switched to savings account and fixed deposit account. Loyalty reward programs like YES Premia, YES First Business will be started to promote savings.
- Under this initiative, along with business insurance, individual insurance such as life insurance, health insurance and general insurance will be provided. In addition, the bank will provide wealth and investment solutions.
- Startups will get collateral free loans of up to Rs 5 crore without any lending. In addition, they will be provided with fitness partnerships and digital payroll solutions.