BSE joins hands with YES BANK to empower SMEs
Mumbai, September 28, 2020: BSE, India’s premier exchange and the world’s fastest Stock Exchange with a speed of 6 microseconds has signed a Memorandum of Understanding (MoU) with YES BANK. This strategic association aims at empowering the SME segment through awareness and knowledge-sharing programmes by BSE and YES BANK.
BSE and YES BANK will conduct knowledge events for SMEs, export promotion of SME scale companies, in addition to providing banking and financial solutions. This MoU shall further entail services pertaining to development and imparting industry-specific and related knowledge-based information. The Bank will also offer customised services and products to the listed SME members of the platform and advisory solutions to EXIM potential listed SMEs.
Speaking on the collaboration, Shri. Ajay Thakur, Head BSE SME & Startups, said, “YES BANK is a high quality, tech-driven, state-of-the-art private Indian bank catering to Emerging India with strong focus on knowledge-based approach to banking. 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 an SME Platform to raise equity funds for their growth.”
Rajan Pental, Global Head – Retail Banking, YES BANK, said, “The SME sector generates maximum employment in the country and is a key priority segment for YES 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. We are excited to partner with BSE and believe that our joint efforts will meaningfully impact the ecosystem. Together, we aim to empower SMEs to become more competitive and fast-track their growth through solutions that address their business challenges.”
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualized entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in Gold, Silver, Copper, Oman Crude Oil Guar Gum, Guar Seeds & Turmeric.
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
BSE has set up an Investor Protection Fund (IPF) on July 10, 1986 to meet the claims of investors against defaulter Members, in accordance with the Guidelines issued by the Ministry of Finance, Government of India. BSE Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.
About YES BANK
YES BANK is a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 8 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/
Yatin Padia / Rahul Vyas/ Shruti Nitesh
022 2272 8516 / 2272 8472/ 8108000974
Yatin.firstname.lastname@example.org/ Rahul.email@example.com/ firstname.lastname@example.org