Money & Banking

YES Bank bets on OD portal to push MSME loans

Our Bureau Coimbatore | Updated on June 25, 2019 Published on June 25, 2019

YES Bank is targeting a disbursement of ₹100 crore during financial year 2019-20 through the bank’s MSME portal. The bank’s total exposure to MSMEs as at end-March 2019 crossed ₹42,000 crore, a senior official of YES Bank said.

On the end-to-end digital offering, Click OD (Overdraft), which the bank introduced less than a month back for its existing MSME customers, Rajan Pental, Senior Group President and Group Head-Branch and Retail Banking, said, “This product is aimed at complementing our efforts at addressing MSMEs’ need for timely and hassle-free access to working capital finance without documentation to sustain and grow in a competitive environment.”

MSMEs can avail themselves of unsecured OD of up to ₹10 lakh without documentation. This offer is available only for select customers based on their credit history.

The customer will have to log on to the YES Bank MSME portal.

“We have a pre-approved facility based on the customer’s eligibility. Hence, the customer would have to confirm the account and give details. The limit will be disbursed to the account within minutes. It would be a complete digital experience,” Pental explained.

Published on June 25, 2019
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