India’s one of the largest public sector bank YES Bank launched for Micro, Small and Medium Enterprises (MSMEs) to provide easy and quick funds to startups. Now individuals and startups can easily apply for a loan through this initiative.
According to The Economic Times “This will be facilitated by curated offerings to address both business and individual needs of MSMEs and of new-age entrepreneurs.“
This initiative is launched to help the new business and startups to get instant and quick funds.
In a statement by YES Bank, said: “YES MSME is an industry-first solution which provides a single interface for all multiple banking needs of MSMEs, including cash flow management, credit limits and utilisation, credit document submission, bulk payments etc.“
Nitin Gadkari, Union Minister for MSMEs and Road Transport and Highways, said: “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” during the virtual launch of YES MSME.
According to Prashant Kumar, MD and CEO, YES Bank, this enhanced value proposition by YES Bank will improve access to finance for MSMEs and support their technology upgrade, among other customer-focused measures.
Currently, YES Bank has YES MSME Mobile (App) and YES MSME Online (Portal) for individual and startup owner to register and get the benefits of YES MSME.