Ex CM Narendra Modi was singed Rs. 5000 cr MoU with YESBANK in 2011

Ahmedabad, 07 March 2020

Yes bank realised this note on 2011, YES BANK signed with Narendran Modi’s BJP Gujarat government.

Gujarat, January 17, 2011: YES BANK, India’s new age private sector Bank, signed a Memorandum of Understanding (MoU) with the Government of Gujarat, to provide financial assistance of INR 5000 crore to existing and target clients based in Gujarat, which will facilitate the growth of sunrise sectors of the state. This partnership is aimed at attracting business, and further accelerating the growth of the emerging industries in the State of Gujarat. YES BANK was one of the four private sector Banks to have signed this MoU.

The MoU was signed on January 12, 2011 against the backdrop of the “Vibrant Gujarat Global Investor Summit 2011” that was held in Gandhinagar. Under the terms of the MoU, YES BANK will partner with the Government of Gujarat to extend support to industries in the state particularly large & mid corporate and SMEs.

This is synergistic with YES BANK’s focus on supporting developmental initiatives in the states & in identified ‘sunrise sectors’ through advocacy, project structuring and attracting investments though Public Private Partnership initiatives.

Speaking on this occasion, Mr. Rana Kapoor, Founder/Managing Director & CEO, YES BANK said, “YES BANK is pleased to partner Gujarat’s progress and development plans through our significant involvement in facilitating trade and investment in the state. Gujarat has a demonstrated track record, with its visionary leadership and progressive policies of the State Government. I truly believe that this MoU will further accelerate YES BANK’s efforts to engage with the Government, industry and other stakeholders, in the State to jointly crystallize specific initiatives and support industry, particularly in the sunrise sectors including Infrastructure, Food & Agribusiness, Tourism, amongst others.”

Gujarat has always been a focus state for YES BANK since inception in 2004 as a private INDIAN BANK, and YES BANK has worked closely with the Gujarat government and administration in specific areas, based on our assessment of their proven ability to contribute positively to Gujarat’s economy. The state has also been working towards a model for economic creation backed with social development and could be the first state to emerge 100% out of poverty. This is in line with YES BANK’s Responsible Banking approach, towards operating in a ‘Sustainability Zone’ where wider economic, environmental and social objectives are met by supporting new emerging businesses that not only promote financial growth but also enhance social and environmental causes.

YES BANK has a network of 185 branches in 149 city locations across India with over 225 ATMs, and two National Operating Centres in Mumbai and Gurgaon. YES BANK remains committed to the state of Gujarat and is already operational in Ahmedabad, Surat, Vadodara, Bardoli, Sachin, Anand, Rajkot, Bhavnagar, Gandhinagar and Vapi and additional branches planned in 19 more towns & cities over the next 69 months.


YES BANK, India’s new age private sector Bank, is the outcome of the professional & entrepreneurial commitment of its Founder, Rana Kapoor and his top management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the Future Businesses of India. YES BANK has adopted international best practices, the highest standards of service quality and operational excellence, and offers comprehensive banking and financial solutions to all its valued customers.

YES BANK has a knowledge driven approach to banking, and a superior customer experience for its retail, corporate and emerging corporate banking clients. YES BANK is steadily evolving as the Professionals’ Bank of India with the long term mission of “Building the Best Quality Bank of the World in India”.

For media queries, please contact:

Supriya Saxena


Sheetal BansodA, dfactors PR