Mumbai: Yes Bank Launches Yes Kiran lending scheme that involves Solar solution initiative for MSMEs to increase sustainability through Solar power consumption.
Yes Bank has forged Collaboration with OEMs and organizations who are offering Solar solutions and enabling sustainable energy practices leading the way for MSME’s to adopt sustainable energy consumption.
The attractive lending proposition scheme YES Kiran Solar by Yes Bank is mainly focused assist the micro, small and medium (MSME) industry and manufacturers who offer solar solutions to make MSME sustainable.
This will further help the MSMEs to harness the solar power and save cost on fuel and energy and being sustainable in present climatic condition where resources and energy getting more costly to afford for a MSME sized business.
To support this mission Yes Bank has partnered with solar panel manufacturers including Tata Power Solar Systems, Goldi Solar, Loom Solar, and Panasonic Solar Power System to support MSMEs transition to renewable energy solutions.
Dhavan Shah, Country Head – SME Banking, Yes Bank, discussed, through the programme, Yes Bank “aim to bring hassle-free financial solutions that are focused at 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,”.
Benefits with YesKiran Lending scheme
- MSME’s can reduce their cost on Fuel and energy
- Receive Flexible tenure at competitive interest rate
- Support from YesBank Team from end to end for planning, implenetation in their entire cycle.
MSMEs will get support from broad range of Tie Ups with manufacturers and installers and have more choices .These initiatives will encourage India’s G20 vision of attaining a target of over 50% of energy production from non-fossil fuel-based renewable sources by the year 2030
As per the programmes’ details, a term loan of up to INR 3 crore for six years with a moratorium of six months will be granted for ground/rooftop mounted solar panel establishment for captive electricity utilisation of manufacturers.
