Mumbai: YES BANK, India’s fifth largest private sector bank, has entered into a collaboration with Pantomath Advisory, an advisory services group and a leading merchant banker for MSMEs with a focus on Maharashtra and Gujarat, to develop the MSME ecosystem.
This collaboration is part of YES BANK’s Alliances, Relationships & Technology (ART) approach, with an aim to enable better access to capital, knowledge and skills in order to help MSMEs scale up, thereby creating a multiplier growth effect for the overall Indian economy.
In line with YES BANK’s commitment towards creating an enabling environment for MSMEs through its extensive branch network in Maharashtra and Gujarat, the partnership will focus on the following areas –
– Creating joint knowledge sharing platforms for MSMEs across the 259 YES BANK branches in Maharashtra and Gujarat
– Facilitating capital access opportunities for MSMEs through workshops and programs
– Providing outreach and networking opportunities to MSMEs across sunrise sectors like Food & Agribusiness, Telecommunications, Information Technology, Lifesciences, Renewable Energy, Logistics, Realty, Manufacturing and Textiles, among others
– Developing further collaborations across the ecosystem to support MSMEs
The Indian economy is increasingly on an upward growth trajectory with several green shoots of recovery, across key sectors including MSMEs and start-ups. Currently, India has an estimated 48 million MSMEs, which contribute more than ~45% to India’s industrial output, ~40% to the country’s total exports, and have tremendous job creation potential.
Commenting on the partnership, Sumit Gupta, Group President & National Head – Business and Rural Banking, YES BANK said, “Our nation’s future growth and job creation is heavily dependent on the MSME sector and the start-up community. We at YES BANK believe that MSMEs are the backbone of the Indian economy, and are committed to being a one stop solution provider for the MSME sector. This partnership with Pantomath has come at an opportune time, and is a step towards building a holistic MSME ecosystem”.
Mahavir Lunawat, Group Managing Director, Pantomath Group said, “Pantomath group has promoted numerous initiatives towards developing a vibrant market place for growing MSME sector. We are pleased to share our collaboration with YES BANK to further develop MSME ecosystem in Maharashtra State. We thank YES BANK to collaborate on this with us. Our collaboration with YES BANK is based on the fundamental needs of MSME sector and aims to provide MSMEs a vibrant growth platform making them true carrier of the ‘Make in Maharashtra with Inclusive Growth’ movement.”
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