Yes Bank of India Interested in Beginning Microfinance Subsidiary in Partnership with US-Based ACCION

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Thursday, November 16, 2006

Yes Bank of India Interested in Beginning Microfinance Subsidiary in Partnership with US-Based ACCION

» Posted by in Category: Asia at 6:32 pm

Yes Bank of India is currently interested in starting a non-deposit taking microfinance subsidiary as a Non-Banking Finance Company (NBFC). Bank president (corporate finance and development banking) Somak Ghosh announced that Yes Bank already has a contract with US based microfinance agency ACCION; ACCION would help Yes Bank assess credit worthiness of individuals, do risk analysis, and prepare loan appraisals.

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