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YES Bank Takes a Cautious Approach Towards Micro Loans Via Business Correspondents
April 29, 2017
YES bank has become more vigilant towards providing microloans in the rural areas through business correspondents. According to Pralay Mondal, senior group president, retail and business banking, the bank is set to scale up the business but in a cautious manner. This is in relation to the recent dip in the collection efficiency of the microfinance companies and concerns over non-repayment of the loans.
YES Bank plans to become self-sufficient in achieving its priority sector goals. It is focusing on leveraging digital solutions to ramp up its efficiency and take the business to the next level.
