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Friday, 14 July 2017

YES Bank gets $150 mn from OPIC to fund SME lending


Private sector YES Bank has received $150 million funding from the US government and Wells Fargo to increase lending to support women entrepreneurs and small and medium-sized enterprises in India. 

This is the third round of funding to the bank as part of arrangement with the Overseas Private Investment Corporation (OPIC) -the US government development finance institution and Wells Fargo. Under the agreement, OPIC will provide $ 75 million in financing and up to $ 75 million in syndicated financing jointly arranged by Wells Fargo Bank to Yes Bank.

Important Takeaways from Above News-
  • Rana Kapoor is the Managing Director and CEO of YES Bank.
  • It was founded in 2004.
  • Yes Bank is Headquartered in Mumbai.
Source- The Hindu

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