Yes Bank launches click OD (over draft) facility for existing MSME customers

New Delhi, 27 June (KNN) Yes Bank has announced the launch of click OD (overdraft) for the bank’s existing customers of Micro, Small and Medium Enterprises (MSME) sector.

Yes bank is the fourth largest bank of India. Through this new the facility, an MSME will be eligible for availing unsecured overdraft up to Rs. 10 lakh digitally without any documentation. This unique proposition will be offered to select customers on the basis of their account conduct and credit history.

This facility is an end to end digital offering where the limit will be disbursed through MSME portal of the bank.

Through their YES MSME portal, bank is targeting a disbursement of Rs 100 crore for Financial Year 2019-20.

YES BANK’s total exposure to MSMEs as on March 31, 2019 has crossed Rs 42,000 crore, according to the official release.

Senior Group President and Group Head, Branch and Retail Banking of Yes Bank Rajan Pental said, “We have been supporting MSMEs in their growth story through various initiatives such as Yes MSME portal and YES GST. “

After launching of this product, the bank hopes to complement its efforts to address the needs of MSMEs for time and hassle-free access to working capital finance without documentation, thereby supporting them in their endeavor to be sustainable and competitive, he added.  (KNN/VS)