Leading stock exchange BSE on September 28 said it has signed a pact with private sector lender Yes Bank to empower the small and medium enterprises (SMEs) listed on the platform.
The pact aims at empowering the SME segment through awareness and knowledge-sharing programmes, BSE said in a statement. As per the Memorandum of Understanding (MoU), BSE and Yes Bank will conduct knowledge events for SMEs, export promotion of SMEs, in addition to providing banking and financial solutions.
The bank will also offer customised services and products to the listed SME members of the platform. "We are happy to associate with Yes Bank and jointly work towards helping SMEs scale and develop themselves. BSE is the largest SME Platform which will provide the SME clients of Yes Bank," said Ajay Thakur, head BSE SME and startups.
Rajan Pental, global head of retail banking at Yes Bank, said the SME sector generates maximum employment in the country and is a key priority segment for the bank. "We remain focused on playing an active role in contributing to this vital economic growth engine and further strengthen the share of the SME segment in the total loan book…Together, we aim to empower SMEs to become more competitive and fast-track their growth through solutions that address their business challenges," he added.