YES BANK’s integrated campaign, Saath Mein Baat Hai, inspires

YES BANK’s integrated campaign, Saath Mein Baat Hai, inspires customers to celebrate family togetherness

 

·         Integrated campaign uses radio, internet and outdoor media to reach diverse, local audiences

·         Winners of social media contest will have their family photograph featured on outdoor ads

YES BANK has launched an integrated campaign, Saath Mein Baat Hai, to drive mass awareness of its family banking proposition: YES Family.

The high-visibility, pan-India campaign, which celebrates togetherness and family solidarity, is being publicized across the country through a combination of outdoor, radio, and digital media, in order to reach a broader, yet more localized audience. It highlights the financial and other gains families stand to make through the YES Family initiative.

Commenting on the launch, Jasneet Bachal, Chief Marketing Officer, YES BANK, said, “The campaign’s messaging around family harmony is curated to echo across mass media. Through the use of carefully selected media platforms, Saath Mein Baat Hai is designed to get consumers, adults as well as those coming of age, talking about what families can achieve when they come together and work as one. While radio will help localize this message, influencers on social media will drive family-centric conversations, taking the message to a wider section of the audience, who get to participate in a social media contest, generating excitement and engagement with the brand. The winners will be gratified with outdoor display of their family photos, as a reinforcement of the message.”

As an integrated campaign, Saath Mein Baat Hai is visible in outdoor locations across 17 key markets. It is also being amplified on more than 40 radio stations in major cities – the amplification has been layered with content integration across radio channels under YES Family and YES BANK umbrella. 

On social media, it is leveraging influencers such as actress Bhumi Pednekar; actor Siddhant Chaturvedi; and actress & content creator, Barkha Singh along with 50 micro-influencers to augment promotion of the product, YES Family, as well as drive participation in a user generated content based social media contest for consumers.

Creative agency: Leo Burnett Orchard

Media buying: Carat India

Social media creatives: TING

Outdoor agency: Platinum Communications Pvt Ltd, a unit of Madison World

YES BANK adds to the festive warmth with YES Family

 YES BANK adds to the festive warmth with YES Family - 

a proposition to fulfil every family member’s needs

 

·         Feature-packed proposition offers wide-ranging services and rewards to meet financial needs of entire family

·         Benefits include priority servicing for whole family, huge savings and cashbacks, fee waivers, flexibility to maintain balance across family accounts and family privileges among other banking solutions

Celebrating togetherness this festive season, YES BANK has launched its YES Family proposition enabling customers to care for the well-being of everyone in their family – with bespoke services and privileges meant to be enjoyed together as a family.

 Packed with unique benefits and exclusive offerings, YES Family has been thoughtfully curated to make everything from shopping and dining together to availing loans more convenient and rewarding for customers.

Among the key attractions of the proposition are: family healthcare benefits; dedicated Relationship Manager for the entire family; flexibility to maintain minimum balance across family accounts; free domestic ATM withdrawals, fee waivers on digital transactions; YES Rewardz points on banking transactions that can be transferred within the family, and exciting cashback and lifestyle offers, among other features.

The proposition is available across YES Prosperity, YES Premia and YES FIRST programs – each of which is designed uniquely to cater to different customer segments.

Commenting on the launch, Prashant Kumar, MD&CEO, YES BANK, said, “As family lifestyles witness a dynamic shift, we see enormous potential for family banking to evolve and keep up with the times. Recognizing that the financial needs and expectations of the modern family unit have changed, YES BANK has endeavoured to curate a program that reflects current realities and factors in practical considerations that come with intra-family financial interactions today. With YES Family, customers of varying income levels can collaborate and coordinate their spending together with their families, creating the opportunity for all family members to learn smart spending and fiscal responsibility. Through this proposition, we envisage increasing our monthly retail customer acquisition by 15% till December 2021.”

Discounted locker rentals, competitive interest rates on fixed deposits, recurring deposits, home loans and auto loans along with offers on dining and shopping are among other benefits built into the proposition.

The YES Prosperity Family proposition is available to customers who maintain a combined average monthly balance (AMB) of INR 50,000; YES Premia Family for customers with an AMB of INR 2 lakh or a Net Relationship Value (NRV) of INR 10 lakh at a family level* while  YES FIRST Family is available to customers maintaining AMB of INR 8 lakh or a NRV of INR 30 lakh at a family level

Eligibility criteria for YES Family proposition:

YES Prosperity Family   An average monthly balance of INR 50,000* and above across savings accounts or a Fixed Deposit of INR 5 lakh and above at a family level*

YES Premia Family   An Average Monthly Balance of INR 2 lakh* across savings accounts or Net Relationship Value of INR 10 lakh at a family level*

YES FIRST Family   An Average Monthly Balance of 8 lakh* across savings accounts or Net Relationship Value of INR 30 lakh at a family level*

*TnC applies. For detailed information on the benefits and privileges, click here: https://www.yesbank.in/personal-banking/yes-family.

YES BANK, WheelsEMI enter co-lending partnership for two

    YES BANK, WheelsEMI enter co-lending partnership 

                                                                    for two-wheeler loans

YES BANK and WheelsEMI Pvt Ltd, have entered into a strategic co-lending agreement to offer two-wheeler loans at competitive interest rates. The partnership aims at synergizing respective capabilities to provide an efficient and seamless lending experience to two-wheeler buyers across India.

The co-lending framework laid down by Reserve Bank of India provides a collaboration tool which benefits from the low-cost funds of a Bank and the sourcing and servicing expertise of a NBFC. This alliance leverages the strengths of both lenders, making this a winning proposition for all stakeholders, thereby expanding the reach to underserved markets.

WheelsEMI offers a range of affordable solutions along the two-wheeler ownership-ridership lifecycle, driving affordable mobility for working families. These include financing of new and pre-owned two wheelers, access to Electric bikes, insurance, servicing, spare parts management and a transparent marketplace for pre-owned two wheelers. WheelsEMI specializes in financing customers in deep geographies through its unique model which bridges the digital divide between the urban and rural geographies while enabling mobility to the under-represented segment of customers.

Under the arrangement, both the lenders plan to finance over 1 lakh two-wheelers in the first phase.

Rajan Pental, Global Head – Retail Banking, YES BANK, said, “We are pleased to partner with WheelsEMI. This arrangement will enable the Bank to enhance its reach by entering and deepening its presence in newer markets.  We look forward to leverage the strengths of Wheels EMI in semi urban and rural markets and build a profitable and sustainable two-wheeler loan portfolio through this partnership.”

Srinivas Kantheti, MD & CEO, WheelsEMI added, “Two wheelers present a huge white space, and we are excited to partner with Yes Bank. This partnership will leverage our investment, increase our reach while building a quality book for the Bank.”

YES BANK among 100 Best Emerging Market Performers

YES BANK among 100 Best Emerging Market Performers,

according to V.E, part of Moody’s ESG Solutions

• The ranking is by V.E, part of Moody’s ESG Solutions
• The top 100 performing companies in the Environmental, Social & Governance (ESG) category have been selected from a universe of 843 companies across 31 countries
• YES BANK continues to be the only Indian Bank featured in the ranking; it was first included in the ranking from December 2017-June 2019 period

YES BANK is among the 100 Best Emerging Market Performers as assessed by V.E, part of Moody’s ESG Solutions. The ranking, as of July 2021, comprises the top 100 performing companies listed in developing markets with the most advanced scores in social responsibility, human rights, employment practices, environmental protection, corporate governance, business ethics and contributions to social and economic development in areas where they operate.

YES BANK continues to be the only Indian Bank in the ranking. It was first included in the V.E ranking from December 2017-June 2019 period.

The top performers  are based on V.E’s Equitics® Emerging Markets Universe, which covers 843 companies from 31 countries. The companies shortlisted for the review are listed in 17 countries and cover 22 sectors. V.E assesses the performance of companies according to the Equitics® methodology, which is based on 38 ESG criteria and nearly 330 indicators broadly categorized under six key areas of environment, human rights, human resources, community involvement, business behaviour and corporate governance. The composition of this ranking is updated by V.E annually in July.

Commenting on the achievement, Niranjan Banodkar, Chief Financial Officer, YES BANK, said, “We are pleased to regain our position on V.E’s prestigious ‘Best Emerging Market Performers’ ranking. It is a testament to the significant steps taken by the Bank towards strengthening its governance frameworks, sharpenening its focus on climate, environmental and socioeconomic performance, and making comprehensive disclosures on how it is focusing on building a responsible, resilient franchise aimed at creating sustainable value for all its stakeholders”

YES BANK has taken significant steps to integrate ESG considerations into its business strategy. The Bank has voluntarily adopted an Environment and Social Policy to address potential ecological and social risks associated with its lending activities. It has instituted an ISO 14001:2015 certified Environmental Management System to address the impact of its operations, while also adopting an ESG-linked Supplier Code of Conduct to integrate sustainability into its supply chain.

Committed to climate goals, the Bank has taken definitive action towards measuring its financed emissions and aligning its electricity portfolio with global decarbonization pathways and achieving a 5% reduction in the carbon emission intensity of its operations in FY21 over the year before. It was rated ‘A-‘(Leadership Band) by CDP for its 2020 Climate Change disclosures.

In FY21, the Bank’s Inclusive & Social Banking and Microfinance Banking divisions continued to deliver access to finance to 9.8 lakh women customers in rural and semi-urban areas. Its Corporate Social Responsibility initiatives trained farmers in productivity enhancement and also ensured access to safe and clean drinking water in FY21.

The Bank remains the only Indian Founding Signatory to the Principles for Responsible Banking – the first global framework enabling banks to align their business to the objectives of the Sustainable Development Goals adopted by the United Nations and the Paris Agreement on climate change.

YES BANK launches YES Essence

YES BANK launches YES Essence,
a banking proposition customized for women from every walk of life

 ·         Accelerated reward points, preferential rates on loans and expert advice on financial matters

·         Exciting lifestyle offers on debit cards

·         Self-care offers on fitness coaching, yoga sessions, medical discounts and more

On the occasion of International Women’s Day, YES BANK announced the launch of YES Essence, a holistic banking proposition for women across customer segments – homemakers, salaried professionals, entrepreneurs and senior citizens.

Every woman is unique and has different aspirations, each equally important. Coming from different walks of life and viewing success in innumerable ways, they craft their own unique stories. Power packed with a range of attractive offers, solutions and products for women covering categories like lifestyle, wellness, education, protection and investment, YES Essence celebrates the uniqueness of women through curated offerings and inspires them to fulfill their aspirations, by encouraging them to be who they essentially are - #BeYourself.

YES BANK will celebrate the launch of this proposition with women customers throughout the Bank’s network of branches across India from March 8-10, 2021.

The holistic proposition offers a bouquet of solutions including complimentary healthcare benefits, earn on auto sweep to FD*, preferential pricing on loans, fee waiver on demat and trading account*, wealth management, offers on upskilling through partnerships, attractive lifestyle and shopping offers, among many more.

Speaking on the launch, Rajan Pental, Global Head - Retail Banking, YES BANK, said, “The holistic proposition has been thoughtfully curated to empower women in the very roles that they have chosen for themselves - extending opportunities for self-enrichment, right from finance to healthcare. This unique proposition with exclusive privileges aims to empower women and support them in the pursuit of their dreams and aspirations while also making their banking experience a rewarding one.”

For detailed information on the benefits and privileges, click here: https://www.yesbank.in/yes-essence 

YES BANK adds host of new features to its

 YES BANK adds host of new features to its Credit Card Rewards Program

·         1^st Indian Bank to offer sharing of reward points on Bank’s Credit Cards

·         Exciting features including redemption against statement outstanding and ‘Points Plus Pay’ for customers to make the most of this festive season

 YES BANK has made its Credit Card Rewards Program even more rewarding by introducing a host of new features, in line with the Bank’s focus on customer-centric innovations. The new features, among others, include sharing of reward points - a first in the Indian Banking industry.

This enables YES BANK Credit Cardmembers to now spread the festive joy by sharing their credit card reward points with their friends and family*.

 Other exciting features and benefits allow Cardmembers to:

 -        Redeem credit card reward points against statement outstanding**

-        Redeem reward points in combination with balance payments through YES BANK Credit Card **

-        Never expiring reward points

-        Reward Points on wallet reload and payment of insurance premiums

-        Zero convenience fee on flight ticket bookings through YES Rewardz

-        Accelerated reward points on select categories – Travel, Dining, Grocery**

 Rajanish Prabhu, Business Head – Credit Cards & Merchant Acquisition, YES BANK said, “We are pleased to introduce this industry-first feature that allows sharing of reward points among the Bank’s Credit Cardmembers and believe this will be a game changer in the Credit Card industry in the country. The other exciting features across categories such as travel, dining, among others, will further enhance the experience through added rewards and value. We look forward to delivering a differentiated rewards experience and unique benefits when using our services.”

Customers can login to the Credit Cards Rewards Portal, to experience these new features. For more information, click here: 

https://www.yesrewardz.com/CreditCard/

 * The rewards points can only be shared with YES BANK Credit Cardmembers.

YES BANK and Worldline support merchants and communities by

YES BANK and Worldline support merchants and communities
by providing remote payment solutions through SMS Pay

·         Merchants can accept remote payments through SMS PAY using the POS Terminal

·         SMS Pay is offered to YES BANK Merchants at no additional cost

·         Assists in maintaining social distancing by providing remote and contactless payment solutions

 YES BANK announced the launch of SMS Pay functionality on POS terminals in partnership with Worldline, enabling merchants to accept contactless and remote payments from their customers. This initiative is in line with the Bank’s commitment to support small and medium businesses in restarting their businesses while providing safety to their customers. SMS Pay is a step towards facilitating merchants to accept remote payments on their POS machines and enabling their customers to transact safely from the comfort of their homes.

 Through this, a safe and simple platform is created for shopkeepers and merchants including local kirana stores & departmental stores enabling them to request payments against invoices by simply entering amount and customer contact details on their POS machines. Instantly an SMS is triggered to the customer’s mobile number with a payment link, allowing them to pay securely through their domestic debit and credit cards.

Speaking on the launch, Rajanish Prabhu, Business Head - Credit Cards and Merchant Acquisition, YES BANK, said “In line with the Bank’s strategy of building a transformed Digital Bank, we along with Worldline have been working on supporting our merchant partners through innovative solutions which help them unlock their businesses in a safe and convenient manner. SMS Pay is a simple yet convenient value addition to our merchant POS solutions and provides an alternative channel of payment acceptance for our merchants at zero incremental cost. SMS Pay will help in boosting business by providing merchants dual benefit of enabling them to serve outside their vicinity as payments can be made remotely as well providing safety and convenience to their customers.”

 Speaking on the launch, Deepak Chandnani, Managing Director, Worldline South Asia and Middle East said, "Consumers continue to increasingly prefer digital payment options over cash. Technology enabled contactless payment solutions are the need of the hour and Worldline is in the forefront of this emerging trend. We will continue to innovate and enhance the functionalities of all our acquiring solutions including POS terminals in order to provide convenient, frictionless and secure solutions for merchants as well as customers. We are pleased to extend our relationship with our trusted partner, YES BANK to provide the SMS Pay feature for their merchants.”

Platform Benefits:

·         Zero contact payments

·         Remote & quick setup on POS terminals

·         Trusted and secure

·         Easy to operate

 Simple and Instant Payment Process Flow

• YES BANK POS terminals have an SMS Pay option displayed in the terminal menu
• Upon selecting SMS Pay, the terminal prompts merchant to enter customer’s mobile number and sale amount
• The customer receives URL for making payment via SMS
• Customer completes the payment remotely via Internet payment gateway (IPG) page through his or her preferred mode of payment (domestic credit or debit card)
• Once the payment is complete, charge slip is generated from the POS machine and merchant can deliver goods or services

YES BANK Q2 Financial Results 2020-21

Key updates of Q2FY21

·         Deposit mobilization continues; at INR 1,35,815 Crores grew 15.7% q-o-q and 28.9% over 6 month period. CD ratio further improved to ~123%; ~1.5 Lac CASA Accounts opened during the quarter, greater than pre-COVID levels

·         Full repayment of RBI special liquidity facility of INR 50,000 Crores

·         Sustained momentum in Operating Profits at INR 1,360 Crores, up 18.6% q-o-q

·         C/I ratio 49.3%; lowest in last 5 quarters

·         Total Covid related provisioning stepped up to INR 1,918 Crores (1.15% of advances)

·         Credit Rating upgrades from Moody’s, CRISIL, India Ratings and ICRA

·         Continued Leadership in Technology: UPI: #1 in P2M transactions, ~37% vol. market share, IMPS: #1 Remitter Bank*

·         Launch of next generation digital products: YES ONLINE, Video KYC, Loan in Seconds, WhatsApp Banking

 Financial Highlights

·         Net Profit at INR 129 Crores for Q2FY21 up 2.8x q-o-q as compared to loss of INR 600 Crores in Q2FY20

·         Net Interest Income at INR 1,973 Crores grew 3.4% q-o-q aided by higher NIMs at 3.1% up ~10 bps q-o-q

·         Non-Interest income for Q2FY21 at INR 707 Crores, grew 13.9% q-o-q. Strong bounce back seen across transactional and granular fee streams

·         Operating expenses declined 4.5% q-o-q and 21.1% y-o-y to INR 1,320 Crores

·         Total step up in provisioning of ~ INR 1,600 Crores; consists of INR 1,038 Crores towards Covid19 related provisioning and balance predominantly towards Non-Performing Investments

·         Net Advances at INR 1,66,923 Crores grew 1.5% q-o-q; Strong pickup in retail disbursements at INR 3,764 Crores, up from INR 424 Crores last quarter.

·         Liquidity Coverage Ratio as on September 30, 2020 at 107.3%

·         Capital position: CET I ratio at 13.5%, Total CRAR at 19.9%

·         Asset quality parameters as of September 30, 2020:

o    PCR improves to 75.7% vs. 75.1% last quarter; including technical write-offs PCR at ~80%

o    GNPA of 16.9% (vs. 17.3% last quarter)

o    NNPA of 4.71% (vs. 4.96% last quarter)

SBI Life Insurance and YES BANK announce Bancassurance

 SBI Life Insurance and YES BANK announce Bancassurance tie-up to make holistic insurance solutions accessible to the Bank’s customers

 

SBI Life Insurance, one of the most trusted private life insurers in the country and YES BANK, today signed a Bancassurance agreement to offer a comprehensive bouquet of life insurance solutions to the Bank’s customers across the country.

 

The agreement was signed by Mr. Rajan Pental, Global Head - Retail Banking, YES BANK and Mr. AVS Sivaramakrishna, Regional Director-Mumbai region, SBI Life Insurance, in the presence of Mr. Mahesh Kumar Sharma, MD & CEO, SBI Life, Mr. Sanjiv Roy, Business Head – Third Party Distribution, YES BANK, Mr. Abhijit Gulanikar, President - Business Strategy, SBI Life, Mr. Ravi Krishnamurthy, President-Zone 1, SBI Life and other respected dignitaries.

 

As part of the partnership, SBI Life’s diverse range of individual and group insurance solutions will be offered to the customers of YES BANK through the Bank’s branches spread across 28 states and 8 Union Territories in India. SBI Life’s extensive product portfolio coupled with the Bank’s digital capabilities and widespread presence will ensure easy accessibility of life insurance to the customers.

 

Commenting on the tie-up, Mr. Ravi Krishnamurthy, President Zone I, SBI Life Insurance said, “At SBI Life, we are constantly looking at developing eco-systems that enable us to amplify our reach and allow us to offer holistic insurance solutions to a wider populace across the country. With this partnership with YES BANK, we aim to provide financial security for consumers and further reduce the protection gap in India. We are extremely delighted to embark on this journey together and look forward to the alliance for opening up new avenues of growth. Mr. Krishnamurthy further added, “We have been relentlessly moving towards strengthening our distribution channels by establishing strategic associations with banks, corporate agents, brokers, insurance marketing firms etc and will continue to make every effort in making insurance easily accessible to all.”

 

Speaking on the occasion, Rajan Pental, Global Head – Retail Banking, YES BANK said, “YES BANK is pleased to partner SBI Life Insurance to provide life insurance solutions to our customers. This partnership is a great opportunity for us to deepen our customer connects, empowering them to stay in control while fulfilling their evolving insurance needs.  The combined synergies of SBI Life’s innovative product suite, industry expertise and YES BANK’s strong customer connect, will immensely benefit the customers.”

YES BANK joins PSB Loans in 59 Minutes

YES BANK joins ‘PSB Loans in 59 Minutes’ digital loan platform
for MSMEs

• Launches digital solutions for hassle-free loans for MSMEs to support their growth
• MSME’s can avail in-principle loan approvals up to INR 5 crore in 59 minutes through Public Sector Banks (PSBs) and Private banks

YES BANK has joined the ‘PSB Loans in 59 Minutes’ initiative by the SIDBI led consortium of PSBs to facilitate quick and hassle-free credit access for MSMEs. The initiative aims to help boost business opportunities for the MSME sector, which has been significantly impacted due to the unprecedented COVID-19 situation. As the nation steadily unlocks in phases, YES BANK is pleased to support the MSMEs.

Under this initiative, in-principle approvals for Business Loans are provided for a value from INR 1 lakh to INR 5 crore. The platform functions through advanced algorithms that integrate information directly from GST, income tax returns, bank statement, fraud check, bureau check, among others and automates the decision making with highest level of information security. Once the applicant submits the loan application, the algorithm analyses the data and determines the loan amount that can be sanctioned – all within 59 minutes. The platform is directly connected to the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme.

Speaking on the development, Rajan Pental, Global Head – Retail Banking, YES BANK, said, “MSMEs are the growth engines of the economy and are a priority sector for YES BANK. To support the sector during the COVID-19 situation, the Bank is pleased to actively participate in this SIDBI-led initiative for MSME growth. The Bank has also launched innovative digital solutions aimed at offering MSME customers a comprehensive range of products which are convenient, quick and tailor-made to fit their requirements.”

Sharing his views, Ronak Shah, Co-founder and COO, Online PSB Loans Ltd., said, “We welcome YES BANK on the platform. The PSBLOANSIN59MINUTES.COM initiative aims at automation of various processes in loan appraisals in such a way that Business and Retail borrowers get an In-principle approval within 59 minutes. The initiative has empowered the borrowers to choose the lender of their choice without visiting the Bank Branch. The solution uses advanced algorithms to read and analyse data points from various sources such as IT returns, GST data, bank statements, MCA21 etc.

To enable MSMEs and Business enterprises to meet their operational liabilities, the Bank is also offering an option to avail up to 20% of loan outstanding under the ECLGS scheme introduced by the Government of India.

ICICI Lombard announces

ICICI Lombard announces Bancassurance tie-up with YES BANK

ICICI Lombard General Insurance, India's leading private sector non-life insurance company, has entered into a Bancassurance tie-up with YES BANK. The partnership will provide the Bank’s diverse customer base access to the insurer’s portfolio and make insurance more accessible to its customers across India.

Through this tie-up, ICICI Lombard aims to offer innovative insurance solutions to YES BANK’s customers across 28 states and 8 Union Territories. With both organizations believing in offering the best to the customers through innovation, this partnership would offer customers the best of both worlds.

On the partnership Sanjeev Mantri, Executive Director, ICICI Lombard said, “At ICICI Lombard, it is our continuous endeavor to reach out to consumers and businesses to provide them effective risk management solutions. We are delighted to partner with YES BANK and serve their esteemed customers across the country. Given the progressive and technology-oriented approach of both partners, this collaboration is an ideal synergy between the two brands and value adding to YES BANK customers”

Rajan Pental, Global Head – Retail Banking, YES BANK, said, “YES BANK is pleased to enter into a Bancassurance tie-up with ICICI Lombard – we believe that our customers will derive greater value from comprehensive insurance solutions offered. We are confident that the Bank’s technology and branch network strength, combined with the innovative product offerings and market reputation of ICICI Lombard will support our customers fulfill their non-life insurance needs. The tie-up is an important milestone and we remain committed to creating a differentiated customer experience.” 

YES BANK repays Rs. 50,000 crore to

YES BANK repays Rs. 50,000 crore to RBI, well before the due date: Chairman Sunil Mehta

The revival of Yes Bank marks the first successful reconstruction scheme led by banks in India’s banking history.

Following the backing of some of India’s largest financial institutions, Yes Bank has made considerable progress towards achieving the targets set by its new Board. The Bank is addressing all key issues and focusing on enhancing support for both its customers and stakeholders.

Addressing the Annual General Meeting, Yes Bank Chairman Sunil Mehta said: “Yes Bank’s successful completion of the Rs 15,000-crore follow-on public offering (FPO) truly demonstrates the strong confidence of institutional and retail investors in the Bank’s restructuring plan, action taken, future roadmap, and its professional management under the new leadership.”

Mehta believes that the upgrade of Yes Bank’s financial instruments by leading rating agencies is a testimony of the positive changes implemented in the Bank within a short timeframe.

Moody’s Investors Service (Moody’s) recently upgraded the Bank’s ratings to “stable outlook”. CRISIL revised its rating from A2 to A2+ for Certificate of Deposits and India Ratings revised its outlook from BB to BBB (stable for infrastructure bonds) and B+ BBB- (stable for Basel III Tier 2 Bonds issued by the Bank).

“We, at Yes Bank, are working on three pillars of sustainable growth – digitalisation, strong governance and risk framework, and sharing success with our stakeholders. These will lay the foundation of our transformation journey,” Mehta said.

As part of its plan to increase focus on Environmental, Social and Corporate Governance (ESG), Yes Bank is in the process of creating an institution that is trusted for its integrity and highest standards of governance and risk management.

“Looking ahead, FY 2020-21 will be a year of transition, as we battle the health and economic impact of COVID-19. I have immense faith in the team to restore our Bank to its rightful position among its leading domestic and global banking peers. Yes Bank is technologically contemporary and is constantly motivated to deliver value to all its stakeholders,” Mehta said.

The Yes Bank chairman expressed his gratitude to all the stakeholders for reposing trust in the Bank and said he felt a deep sense of pride to be a part of an institution that continued to show remarkable confidence towards delivering these positive outcomes. The achievements and the changes would not have been possible without the support of the Government of India, RBI, other regulators, investors, valued customers, members of the Board, and the over 21,000 highly enthusiastic and committed Yes Bank employees.

YES BANK launches digital ‘Loan against Securities’ under

YES BANK launches digital ‘Loan against Securities’ under the Loan in Seconds platform for instant loan disbursements

Customers can now avail hassle-free loan against Mutual Funds, digitally within minutes

YES BANK announced the launch of digital ‘Loan against Securities’, a unique solution enabling customers to lien mark their mutual funds digitally and avail quick and hassle-free loan. This digital solution has been launched under YES BANK’s ‘Loan in Seconds’ platform, allowing customers to set an instant credit limit against securities held. Customers can now avail a loan digitally without any additional documentation from the safety and comfort of their homes.

Leveraging the Bank’s strong technology and analytics, the customised solution through its algorithm processes the loan application digitally in real time, which would usually take 3-5 days, thereby resulting in a seamless customer experience. Customers can avail the facility from the Bank’s website, https://www.yesbank.in/yes-bank-loans/loan-in-seconds and lien mark mutual funds with KFin Technologies as the registrar, check the terms and authenticate the request for enabling instant limit setting.   

                 

Key features of the solution:

·         First Bank to tie-up with KFin Technologies for online lien marking of mutual funds

·         Completely digital and seamless for customers, wherein the limit would be set in their account in few minutes

·         No additional documentation required

·         Two validations from the Bank and two validations from KFin Technologies to ensure safety

                              

Benefits of the solution:

·         Instant availability of funds in account within minutes

·         Loan up to Rs. 1 crore against debt mutual funds

·         Available against both Debt and Equity Mutual Funds

·         Customer retains mutual fund portfolio without liquidation

·         Interest applied only on amount utilized for the number of days of utilization

Speaking on the launch, Rajan Pental, Global Head – Retail Banking, YES BANK, said, “This launch is a testament to YES BANK’s digital innovation and technology capabilities, aimed at offering convenient, fast and easy-to-use solutions and products to customers. This solution provides a differentiated banking experience to customers as the limit is set-up instantly in a completely paperless and hassle-free manner. We are pleased to be the first Bank to partner with KFin Technologies to provide a completely digital loan against mutual funds to our customers.”

Sreekanth Nadella, CEO, KFin Technologies, said, “It gives us immense pleasure to partner with YES BANK and provide a unique experience to customers by providing instant loan against Mutual Funds. This is a truly digital offering without any paperwork. Customer convenience has always been the core of our organisation and this digital offering is another step in that direction. We look forward to a long and mutually beneficial relationship with YES BANK.”

YES BANK digitizes eight campuses with

YES BANK digitizes eight campuses with its cashless solutions

Facilitates contactless payments, eliminating the need for handling cash for collections of fees and associated campus expenses

YES BANK has empowered eight leading educational campuses by enabling digitization across India through cashless payment solutions. In light of the COVID-19 situation, the Bank has successfully partnered and helped the institutions achieve their vision of going cashless, while enabling payment of fees and other campus expenses through secure digital solutions.

The innovative solutions have helped in reducing the turnaround time for transaction processing and are in-line with Bank’s strategy of building a transformed ‘Digital Bank’. The Bank aims to provide convenient and seamless payment experience through a mix of solutions including offline UPI (Unified Payments Interface) having VPA (Virtual Payment Address), QR Code based payments (Scan-and-Pay), dynamic VPA based collections and Payment Gateway options.

The Bank has fully equipped the following campuses with technology and created an eco-system to go 100% cashless.

·         Emmanuel English Higher Secondary School – Silchar, Assam

·         New Oxford School – Silchar, Assam

·         Shri Ram Centennial School - Agra

·         Uttam Institute of Management Studies - Agra

·         G. D. Goenka Public School - Agra

·         Mussoorie International School – Mussoorie

·         Whistling Woods International - Mumbai

·         Silver Bells English Medium School – Nashik

Benefits of the solution:

·         Payments and transactions can be done round-the-clock basis the convenience of the individual, from the safety and comfort of their homes through any UPI App

·         Eliminates the use of cash for collections of fees, especially during the COVID-19 situation

·         Seamless VPA/QR code-based transaction without the need to integrate with any payment system

·         Cost effective for institutions, as the transaction cost is nil and cash handling charges are eliminated

·         Fully secure, as it eliminates the need to enter bank details or any other sensitive information like Account Number or Debit Card details for every transaction

·         Dashboard provided to the institutions for reconciliation of various MIS, transaction updates and reports

Speaking on the development, Ritesh Pai, Chief Digital Officer, YES BANK, said, “YES BANK is privileged to help the institutions in the journey of transforming their campuses into a truly cashless ecosystem. Digitizing educational institutions will encourage students to adopt digital payments in their formative years and gradually transform India into a digitally empowered society. The solutions are a step towards revolutionizing the payments infrastructure across education campuses in India. We look forward to collaborating with other institutions for many more similar innovative digital initiatives.”