28 Jan 2021 | 4 min read
Are you seeking to give shape to your business dream but lack of the funds is holding you back? Well, if your answer is yes then we would like to tell you that you may avail an instant business loan up to Rs. 5 crores without pledging any of your collateral. Yes! This post is certainly for you and existing MSME owner.
MSME sector is the blessing in India for those who hold business knacks. When it comes to the nation’s economic balance, MSMEs are the most considerable driver in India contributing 8% to GDP. Taking it into more consideration, the sector has been contributing constantly towards manufacturing, exports, and employment, and as the consequences, other sectors are also availing benefits from it.
So, since MSME is a core contributor in the Indian economy, the Indian Government has several special financial facilitation plans for the sector.
Keeping the same in view, one of India’s leading commercial banks - YES Bank has recently announced a special product for the MSME sector called ‘YES MSME’. To explore more on the same, let’s delve into the post with us!
Well, to understand this in simple terms, ‘YES MSME’ is an exclusive initiative by the YES Bank which focuses at providing facilitation to micro, small and medium enterprises (MSMEs) in multiple perspectives, for example, providing instant and smooth access to funds. Therefore, these funds can be taken in use for multiple business purposes.
Besides, it is the first financial solution in India which extends a sole interface for all multiple banking requirements of MSMEs, i.e., credit limits and utilisation, cash flow management, bulk payment, credit document submission, etc.
The Managing Director (MD) and the Chief Executive Officer (CEO) of the YES Bank, Prashant Kumar announced about the product recently at the SME Carnival which held from January 18, 2021 to January 22, 2021. The YES MSME scheme has particularly been launched to facilitate the growth of India's MSME industry.
Following are features and benefits that MSMEs can relish on using ‘YES MSME’ scheme. Take a look:
YES Bank has defined the functions of the YES MSME scheme in 5 elements:
Let’s understand each of them smoothly:
To use the YES MSME scheme, first and foremost, you should be an active user of YES Bank and your business should be an MSME, afterwards, you are only required to follow the below-stated steps:
To conclude, the MSME industry is the spine of the Indian economy as the industry has contributed with 11 crores jobs so far and it is functioning constantly in boosting this data. Therefore, the investment which has been made for the MSME industry by YES Bank was pressing priority for the industry. YES MSME scheme will not only aid the particular sector but also strengthen the ecosystem.
The scheme is an exclusive financial product in India for MSME industry. To enjoy the features and benefits of the product, you should possess an account in the YES Bank and should hold an MSME.
To attain further knowledge about the scheme, you can visit the official portal of YES Bank or can get a hold of the customer care team of the Bank through YES Bank toll free customer care number which is 1800 1200.
In case you are facing a cash crunch in your business, you can avail an instant business loan and get the facilitation to accelerate your business. All you are required is to just download the Afinoz instant loan app from the Google Play Store, register yourself, check eligibility, compare multiple lenders and different offers, and choose the best as per your circumstances and needs.