- Small businesses can reap benefits like less operational cost, end-to-end support, flexible loan tenure and a range of tie-ups, says the bank
- YES BANK has partnered with leading solar panel makers and other companies to facilitate MSMEs making the transition to renewables
In a recent event, YES BANK launched a lending proposition aimed at offering financial assistance to Micro, Small and Medium Enterprises (MSME) manufacturers who wish to install solar panels at their premises. Named ‘YES KIRAN’, the programme aims to support the adoption of sustainable energy practices by such enterprises while also bringing in cost efficiency by helping them curtail their expenses towards power and fuel. As per the bank, MSMEs can reap benefits like less operational cost, end-to-end support, flexible loan tenure at competitive interest rates, and a range of tie-ups with leading solar panel manufacturers and installers.
The press release noted that with the launch of this initiative, the bank is partnering the nation in becoming an early adopter of solar energy. Notably, the bank has forged strategic associations with some of the leading solar panels manufacturers 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.
Country Head – SME Banking at YES BANK, Mr Dhavan Shah remarked, “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 on 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.”
Capt. Ishver Dholakiya, Founder & MD of Goldi Solar stated the following on the partnership with the bank, “Over the past few years, we’ve seen a significant behaviour shift in the Indian MSMEs towards green energy solutions. We anticipate that more small businesses will adopt solar power, increasing their competitiveness in domestic and international markets and contributing to India’s energy security and the decarbonization of power. With our partnership with Yes Bank, we’re excited to offer a financing solution to help MSMEs save on electricity costs and improve access to green energy.”
Headquartered in Mumbai, YES BANK is a full-service commercial bank catering to retail, MSME as well as corporate clients. It operates its investment banking, merchant banking and brokerage businesses through YES SECURITIES, its wholly-owned subsidiary.
