Yes Bank Launches GST Backed Over Draft Facility for MSMEs

Yes Bank has announced the launch of ‘Yes GST’, an OD (over draft) facility for Micro, Small and Medium Enterprises (MSMEs). Through this, an MSME can avail OD up to Rs 1 crore, based on their annual turnover, backed by GST returns.

Any additional assessment of balance sheet or bank statements will not be required. This OD facility can be availed by an MSME against mortgage of residential or commercial property. The sanctioned amount can be utilised by the MSME either fully or in tranches.
Source- The Economic Times
Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
  • Yes Bank MD and CEO- Rana Kapoor.
  • Head office of Yes Bank- Mumbai.
  • YES BANK is India’s fifth largest private sector Bank.
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