March 20 2016, 12.16 PM IST || Pocket News Alert
New Delhi, March 20, 2016: Mr. Rana Kapoor was conferred the SKOCH Award for SME Enablement at the 43rd SKOCH Summit focused on the theme ‘25 Years of Indian Reforms’. The Award was presented by Shri M. Venkaiah Naidu, Hon’ble Union Minister, Urban Development, Housing & Urban Poverty Alleviation.
On this special occasion, Hon’ble Union Minister of Finance, Shri Arun Jaitley also conferred the ‘SKOCH Challenger Lifetime Achievement Award’ to Shri M. Venkiah Naidu.
The Summit, presided by Shri Arun Jaitley, witnessed participation from several senior Ministers, including Shri Suresh Prabhu, Minister of Railways; Shri Rajiv Pratap Rudy, Minister for Skill Development and Entrepreneurship & Parliamentary Affairs; Shri Kamineni Srinivas, Minister of Health, Andhra Pradhesh, Shri K.T. Rama Rao, Minister of IT, Telangana, amongst others.
On receiving the prestigious recognition Mr. Rana Kapoor, MD & CEO, YES BANK said, “I have always believed that the SME Sector is the backbone of the Indian Economy, not just because they create granular employment by reducing Poverty and creating balanced regional growth, but also more importantly, SMEs are a true manifestation of Creative Entrepreneurship. We have the golden chance to rejuvenate our SME sector which will have a cascading effect on India’s growth story. YES BANK recognizes the true potential of the sector and the achievements of Entrepreneurs and Entrepreneur-led Companies.”
Speaking at the event, Shri M. Venkaiah Naidu, Hon’ble Union Minister, Urban Development, Housing & Urban Poverty Alleviation, said, “The motto of this Government is to reform, perform and transform. The Government is working towards poverty alleviation, ending illiteracy and urban-rural divide, rooting out corruption and fighting social evils. The Real Estate (Regulation and Development) Bill, 2013, and the ‘Housing for All by 2022’ program for the rehabilitation of slum-dwellers and promotion of affordable housing for the urban poor will make people’s life more comfortable. ‘Housing for All’ will be a reality by 2022.”
Shri Arun Jaitley, Hon’ble Union Minister of Finance said, “As the economy grows faster, people get more jobs, wealth is generated, people are pulled out of poverty lines and then a resource-full state is able to generate a lot of anti-poverty programs. If we continue to follow the reforms path, we will be able to write a new chapter in history.”
YES BANK, under the leadership of Mr. Rana Kapoor, has a strong focus on key sectors such as Agribusiness, Manufacturing, Infrastructure, Education and Healthcare, amongst others. YES BANK believes that the SMEs of yesterday are the large corporates of today and will be MNCs of tomorrow and has thus strived to create products and services to best cater to the SME sector and provide them much needed support.
YES BANK has developed various products, keeping in mind the challenges faced by the sector to get access to formal institutional finance. Additionally, YES BANK in its efforts to support the SME sector has signed an agreement with Overseas Private Investment Corporation (OPIC), the US Government’s Development Finance Institution, for debt financing of US$245 million to increase lending to MSMEs in India.
About YES BANK
YES BANK, India’s fifth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its top management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India. YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.
YES BANK has a knowledge driven approach to banking, and offers a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “Building the Best Quality Bank of the World in India” by 2020.
