Finance for print from Yes Bank and Crisil
Yes Bank and Crisil along with the Bombay Maters Printers Association (BMPA) organised its first seminar on financial knowledge series. The aim of this seminar was to provide comprehensive financial solutions for SMEs such as the printing industry.
03 May 2012 | 4672 Views | By Rahul Kumar
The seminar was attended by 45 CEOs and other printing firm representatives on 28 April 2012 at the Sunville Hotel in Mumbai.
“Yes Bank is providing a thrust in looking after the needs and financing of the printing industry. Since printers import most of our high-end equipment, foreign currency rates play an important part in our business. Foreign exchange rates give us nightmares. Yes Bank will give us a clear idea of what needs to be done in these scenarios,” said Hemant Bhotica, the president of BMPA.
Yes Bank as one of the premier private sector banks has hosted a series of platforms and knowledge forums to facilitate robust discussion and development charters on professional entrepreneurship. In order to meet the financial needs of SMEs, Yes Bank has formulated a division called Yes Prosperity- Business, which will try to meet the dynamic and diverse needs of the SMEs and provide them with superior banking solutions.
Crisil is a global analytical company providing ratings, research, and risk and policy advisory services. It’s among India’s leading ratings agency. A SME with a Crisil rating helps lenders and borrowers, issuers and investors, regulators, and market intermediaries make better-informed investment and business decisions.
According to Yogesh Dixit, head-SME rating, Crisil said: “A SME with Crisil ratings has seen a sales growth of about 15 per cent and an overall growth of 27 per cent. If the market knows what your ratings are, they can deal and exchange the right interest with you faster. That is the objective of Crisil.”
Some key points made by the speakers during the seminar were; Yes Bank - its vision for SMEs and their future, highlights of the union budget 2012 and the future of the economy in 2013. Securing finance effortlessly, leveraging assets to maximise profits and simplifying financial procedures of the banks and also focusing on buyer’s credit, letter of credit and export finances. Benefits of Crisil ratings and its experience with the print industry
The other speakers of Yes Bank present for the seminar were Sanjay Agarwal, senior president, business banking; Shubhada Rao, chief economist; Asheesh Maroo, executive vice president and country head, risk management; and Munindra Verma, president and country head, transaction banking group.