YES BANK launches solar financing programme to aid MSMEs – EQ Mag
The Bank has forged strategic collaborations with original equipment manufacturers (OEM) and companies who offer solar solutions to support adoption of sustainable energy practices by MSMEs
YES BANK today announced the launch of YES KIRAN, an attractive lending proposition aimed at offering financial assistance to Micro, Small and Medium Enterprises (MSME) manufacturers who wish to install solar panels at their premises. Through this programme, the Bank aims to support the adoption of sustainable energy practices by small and mid-sized enterprises while also bringing in cost efficiency by helping them curtail their expenses towards power and fuel.
YES BANK is one of the largest lenders to the country’s clean energy space. The launch of YES KIRAN is a testament to the Bank’s effort to revolutionize the global initiative of adopting renewable source of energy as a primary source. With the launch of the YES KIRAN initiative, the Bank is partnering the nation in becoming an early adopter of solar energy, thereby setting an exemplary benchmark before the world.
In a bid to reach out to a wide network of customers, the Bank has forged strategic associations with some of the leading solar panel manufactures like Tata Power Solar Systems Limited, Goldi Solar and Loom Solar, as well as companies like Panasonic Solar Power System, to facilitate businesses to make the transition to renewable energy solutions.
Speaking on the initiative, Mr Dhavan Shah, Country Head – SME Banking, YES BANK, said, “At YES BANK, we are deeply committed to supporting small and mid-sized enterprises in their journey towards profitability and sustainable growth by curating propositions that can empower them to become energy efficient. YES KIRAN is a testament to this effort, through which we aim to bring hassle-free financial solutions that are focused at encouraging MSMEs to adopt solar energy led best practices, and help them achieve their sustainability goals by freeing up more funds for their business related requirements. We believe, YES KIRAN is a pioneering proposition that will go a long way in fulfilling India’s G20 vision of achieving a target of over 50% energy production from renewable sources by 2030.”
Benefits that MSMEs can reap under the YES KIRAN initiative:
Reduce operational cost Get a flexible loan tenure at competitive interest rates End to end support from YES BANK team, through the entire cycle of planning to implementation A broad range of tie ups with leading solar panel manufacturers and installers to help MSMEs make an informed choice
About YES BANK
YES BANK is a full service commercial bank providing a complete range of products, services and technology driven digital offerings, catering to retail, MSME as well as corporate clients. YES BANK operates its investment banking, merchant banking and brokerage businesses through YES SECURITIES, a wholly owned subsidiary of the Bank. Headquartered in Mumbai, it has a pan-India presence including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
Source: PTI
