Business’ first rule is to understand environment

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a core value of ‘Responsible Banking’ through which we actively search for innovative technologies in the social and environmental space and integrate business with development. Like, YES BANK played an instrumental role in the loan syndication and subsequent growth of the third global wind energy major, Suzlon. On a micro level the Bank has also financially supported over 10,000 nomadic bee farmers in Kashmir so that they can organise the honey production process into a more competitive business model.

Sustainable development : need for synergy

The Indian government has made it a top priority to address India’s social and environmental issues through numerous policy reforms and programmes in industry, education, health and human resource development. However, the reality of the matter is that even with a large bureaucracy for a vast and dynamic modern India, it is difficult to fast track project approvals and expedite policy implementation. On the other hand, NGOs and non-profit organisations have traditionally taken such initiatives upon themselves, thus developing well-entrenched networks within their target communities, but they have been unable to reach scale in an effective and efficient manner. It is up to the corporation to step forward and take responsibility for the changes required, leveraging the work of both government and NGOs. We do not suggest that the private sector can do the government’s work for them, which would be an impossible task, but rather work with the government and civil society though a public private partnership (PPP) approach to meet India’s sustainable development agenda head on.

YES BANK’s Responsible Banking philosophy puts front and centre this agenda because as a public trust and financial institution, we can and we should fill that gap. The most notable feature of a developing country is that it witnesses the birth of a number of organisations geared to meet the demands of, and opportunities presented by development. The complex and unique socio-economic and environmental make up of India requires an equally unique business approach, where every company must deeply analyse what it can offer to the country’s sustainable development agenda considering its core competencies and capacities. 

The value and final aim of CSR