Yes Bank, along with YES Global Institute has launched ‘YES GST’ program for MSMEs under its MSME CSR initiative, ‘Say YES to Sustainable MSMEs in India’. Through the program, the bank will help MSMEs understand the impact of the proposed changes and prepare them for migration to the new GST tax system. Yes Bank in line with its Responsible Banking ethos is committed to supporting the MSME sector and giving it the much needed thrust to put it on a sustainable growth path.
In addition to MSMEs, the campaign will also target Chartered Accountants who are an important stakeholder in the journey for the MSMEs, and Yes Bank employees, who will be made GST ready to support these MSMEs. Yes Bank has initiated the programme on the back of findings of its nationwide survey with 100 MSMEs. The survey, among others showed that one in every two MSME owners is not aware of the impact of GST on their businesses and nine out of 10 MSME owners are not fully aware of the changes needed to comply with GST.