YES BANK Partners with FICCI FLO to Launch YES PowherUp to Empower Women Entrepreneurs

Mumbai, December 19, 2024: YES BANK, India’s sixth-largest private sector bank, has teamed up with FICCI FLO, the largest women’s chamber of commerce in South East Asia, to introduce YES PowherUp. This new MSME program aims to support and empower women entrepreneurs by providing them with a specialized suite of financial solutions tailored to their unique business needs.

The YES PowherUp initiative offers a broad range of offerings, including SME loans, premium business accounts, international trade and forex services, investment opportunities, credit cards, and insurance plans. Designed to address the distinct challenges faced by women entrepreneurs, the program aims to provide critical resources to help businesses grow, scale, and thrive sustainably.

Dhavan Shah, Head of SME Banking at YES BANK, commented, “India’s MSME sector is experiencing extraordinary growth, with women entrepreneurs playing an integral role in this evolution. Our partnership with FICCI FLO enables us to launch YES PowherUp, a pioneering MSME offering specifically designed to empower women-led businesses. At YES BANK, we are deeply committed to equipping women entrepreneurs with the financial tools and resources they need to succeed and build a prosperous future for themselves and India.”

Ms. Joyshree Das Verma, National President of FICCI FLO, expressed her thoughts on the collaboration: “FICCI FLO has been supporting women entrepreneurs for over 40 years, understanding their unique challenges. Many women-led businesses are hesitant to access financing for growth, and this partnership with YES BANK seeks to change that. Despite representing 50% of the population, only a small percentage of women avail loans to expand their businesses. Through YES PowherUp, we hope to help women entrepreneurs unlock their potential, increase financial independence, and reshape attitudes towards borrowing.”

The launch of YES PowherUp took place during the FICCI FLO Interstate Meet in Guwahati, where YES BANK’s SME team interacted with women-led businesses from various industries, including healthcare, pharmaceuticals, manufacturing, textiles, and startups. The event highlighted YES PowherUp and other YES Business solutions as key drivers of business growth and sustainability.

Key Features of YES PowherUp include:

• SME Loans: Custom funding options with a 50% processing fee waiver for FICCI FLO members.
• YES First Business Account: Premium business accounts offering exclusive benefits for women entrepreneurs.
• Trade & Forex Solutions: Comprehensive solutions for businesses looking to enter international markets.
• Investment Solutions: Trade up to ₹1.5 Cr with zero brokerage for 60 days via YES Securities.
• Card Solutions: Business credit cards with low foreign currency markups for domestic and international travel.
• Insurance Plans: Specialized asset protection, cancer coverage, and discounted term plans for women entrepreneurs.

YES PowherUp is dedicated to supporting women at every stage of their entrepreneurial journey, enabling them to grow and succeed in a competitive business environment.

About YES BANK

YES BANK is a full-service commercial bank based in Mumbai, offering a wide array of products, services, and digital solutions to retail, MSME, and corporate clients. The bank operates its brokerage business through YES SECURITIES, a wholly-owned subsidiary. YES BANK has a nationwide presence with an International Banking Unit (IBU) at GIFT City and a Representative Office in Abu Dhabi.

For more information, visit www.yesbank.in.

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