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YES BANK s YES MSME initiative ensures businesses have all-round financial support Here s how

Share on With a contribution of nearly one-third to India’s economy and creating about 11 crore jobs, India’s micro, small and medium enterprises (MSMEs) sector is a key element in the country’s growth story. Despite this, the sector continues to face challenges of inadequate and timely financial services that have led to inaccessibility to regular credit, which hinders their ability to implement emerging technologies and boost their growth. Traditionally, major banks and financial institutions in India sought to serve MSMEs by extending their products and services, usually offered to large customers, to MSMEs. But given the singular nature of such businesses and their financial needs, it was prudent for lenders to adopt a different and a holistic approach rather than just targeting a few individuals or entities.

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