YES BANK, a full-service commercial bank headquartered in Mumbai, has launched a lending proposition called “YES KIRAN” to provide financial assistance to Micro, Small and Medium Enterprises (MSME) manufacturers who want to install solar panels at their premises.
The programme aims to support the adoption of sustainable energy practices by MSMEs while also bringing cost efficiency by reducing their expenses towards power and fuel. YES KIRAN offers a range of benefits to MSMEs, including less operational cost, end-to-end support, flexible loan tenure at competitive interest rates, and a variety of tie-ups with leading solar panel manufacturers and installers such as Tata Power Solar Systems Limited, Goldi Solar, Loom Solar. The bank has also partnered with companies like Panasonic Solar Power System to help businesses transition to renewable energy solutions.
According to YES BANK, the initiative is part of the bank’s commitment to supporting small and mid-sized enterprises in their journey towards profitability and sustainable growth. Country Head – SME Banking at YES BANK, Mr Dhavan Shah, stated that the YES KIRAN programme is 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. YES BANK believes that 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.
The bank offers investment banking, merchant banking, and brokerage services through its wholly-owned subsidiary YES SECURITIES, catering to retail, MSME, and corporate clients. With the launch of YES KIRAN, YES BANK aims to partner with the nation in becoming an early adopter of solar energy and promote the adoption of sustainable energy practices by MSMEs.