Yes Bank to draw agri-marketing project plan for Bengal govt

Kolkata, Feb 12 (UNI) West Bengal government, in association with private bank Yes Bank, has chalked out a plan for a mega agri-marketing project in a bid to liberate the farmers from the shackles of middlemen.

''We have proposed an agri-marketing project plan for the Bengal government. The project is yet to get a final nod from the state government,'' YES BANK Assistant Vice-President (Government Initiatives Development&Knowledge Banking) Shamik Dasgupta told UNI today.

He said the bank would help the state government to evolve an agri-marketing system for the farmers so that they could get proper price for their produces and do not have to depend on the middlemen to sell produces or buy seeds, fertilisers etc. Similar model has been propagated by ITC through E-choupals.

''The state has a strong agricultural base creating powerful and dynamic rural economy. This model can be implemented in the state successfully,'' he said.

''We will frame the structure for the agri-marketing project and also help the government find private partners to make PPP model possible,'' he stated.

Speaking on the project, State Industry Secretary Sabyasachi Sen said,''We have almost finalised the project. The agri-marketing department is under the aegis of the state's agri marketing department.

The bank is working with the state government in other sectors like Tourism, health care, IT, infrastructure sector, restructuring and reviving the public sector PSUs etc.

Speaking on its business project with other states, he said, ''We do hand holding for the governments of various states to prepare Vision documents, charting industry specific growth path, road map for various projects with help from our project advisory team.'' Yes Bank, with its forte in corporate and institutional banking, has rolled out aggressive plans for its foray into the retail and wealth management business. The private bank is also in the initial stages of implementing its credit card and broking activities.

With most private banks into wealth management already, Yes Bank has demarcated specific sub-brands, targeting various segments as part of its wealth management programme.

Currently the business mix of Yes Bank is largely oriented towards corporate and institutional banking--these contribute almost 70 per cent of its business. Over the medium to long term, the bank expects the retail banking and wealth management segment would ideally contribute over 30 per cent of the total business.

UNI