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Yes Bank introduces digital OD facility for MSMEs

Yes Bank has launched Click OD, an overdraft facility for the bank’s existing MSME customers. Through this facility, an MSME can avail unsecured OD up to Rs 10 lakh digitally, without any documentation. The OD facility will be offered to select customers basis their account conduct and credit history. The facility is an end-to-end digital offering where the limit will be disbursed through the bank’s MSME portal. The customer has to login on the portal and just follow the steps. The bank is targeting a disbursement of Rs 100 crore for FY 2019-20. Yes Bank has a total exposure of Rs 42,000 crore to the MSME sector as on 31 March 2019. Rajan Pental, senior group president and group head – Branch and Retail Banking at the bank, said  through the launch of this product, the bank hopes to complement its efforts to address MSME’s need for timely and hassle free access to working capital finance without documentation, thereby supporting them in their endeavor to be sustainable and competitive.

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