Yes, you heard it absolutely correct; YES Bank is an Indian Private sector bank has launched a cleantech accelerator program which is named as “YES Scale” in association with MNRE to help all the startups working in the field energy efficiency, waste management and water management as reported by Mercom India.
With this platform, banks will provide an amount of ₹2 million which will act as a pilot grant or a proof of concept. When the affiliated startups receive the amount, they will be able to access the technology, mentorship, funding and market entry.
Rana Kapoor, the MD and CEO of YES bank says in a media release that “banks need to cater to sunrise the sectors of Indian Economy by using the knowledge of banking to deliver impactfully ecosystem solutions.”
This program has the ability to bring a change on multiple sectors like smart cities, clean technology, agricultural technology, life sciences, technology, educational technology etc.
It has been also found that YES bank is one of the most active financial institutions in our country, India over the past few years and encouraging investment in the renewable energy sector.
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