YES Bank forges strategic alliance with NABARD Consultancy Services

Mumbai, June 29 (UNI) YES BANK and NABARD Consultancy Services (NABCONS) today announced a strategic alliance towards joint execution of advisory/technical consultancy assignments in India as well as countries of strategic value in the Food&Agribusiness (F&A) domain.

Announcing this, a joint press release said as per the mutually agreed arrangement, both the entities would work jointly on matters relating to providing strategic advisory and consultancy to national and international clients including Departments of GOI, state governments, government bodies/boards, Corporates and International agencies.

Under the alliance YES BANK and NABARD Consultancy services will undertake jointly to bid for undertaking strategic consultancy assignments. YES BANK has linkages (financial and advisory) with many Research&Development and Technically oriented Corporates requiring advisory services. It may also utilize technical advisory services of NABCONS for specific commercial mandates being undertaken by YES BANK.

Announcing the significant development, Dr Y S P Thorat, Chairman NABARD, said, ''NABARD decided to setup an exclusive institution leveraging on its core competence in formulation, appraisal and evaluation of multidisciplinary rural development projects, to give focused attention to this area. NABCONS was thus setup in conformity with NABARD's declared mission to bring about rural prosperity and as such has more than just commercial interest in the developmental projects.'' Mr Rana Kapoor, Managing Director and CEO, YES BANK, said, ''This MOU will go a long way in delivering value to the clients in the Food&Agribusiness domain, which is in accordance with the Bank's knowledge driven approach to banking. The Bank has formed a specialized 'Development and Knowledge Banking Division' focusing on key sunrise growth sectors with predominant focus on Food and Agriculture and Rural Banking. The association of YES BANK with NABCONS is a step further in exemplifying the Bank's commitment to the growth of the highly important Agriculture sector.'' UNI SN KU AG2108