NEW DELHI: Private sector lender Yes Bank on Friday signed an agreement with the government to provide Rs 1,000 crore financing for food processing projects. The funding can be supplied to around 100 food processing projects with a median price ticket size of Rs 10 crore each and every, the bank said in a remark.
Focus can be on projects throughout backend infrastructure, cold chain introduction of latest processing devices, enlargement of existing devices, forward linkages and food processing clusters in quite a lot of locations in India, amongst others, it added.
The memorandum of understanding (MoU) amid the continued three-day World Food India being organised via the Food Processing Ministry.
Speaking on the partnership with the Food Processing Ministry in this regard, Yes Bank Managing Director and CEO Rana Kapoor said: "India's food Processing industry is a vital economic growth driver and is playing a key role in doubling farmer's value added income and ensuring food security."
At World Food India tournament, Yes Bank is anchoring 'Food Processing Start-Up Awards' institutionalised in conjunction with the government to boost start-up ecosystem in the nation.
Over 150 applications have been gained, of which the highest 20 had been selected on the foundation of scalability and enterprising innovations throughout six areas particularly products, applied sciences, food safety, provide chain, cold chain & packaging, the bank said.
Top 3 promising and innovative startups can be awarded via the President of India all over the valedictory consultation of the event on November 5, it added.
Focus can be on projects throughout backend infrastructure, cold chain introduction of latest processing devices, enlargement of existing devices, forward linkages and food processing clusters in quite a lot of locations in India, amongst others, it added.
The memorandum of understanding (MoU) amid the continued three-day World Food India being organised via the Food Processing Ministry.
Speaking on the partnership with the Food Processing Ministry in this regard, Yes Bank Managing Director and CEO Rana Kapoor said: "India's food Processing industry is a vital economic growth driver and is playing a key role in doubling farmer's value added income and ensuring food security."
At World Food India tournament, Yes Bank is anchoring 'Food Processing Start-Up Awards' institutionalised in conjunction with the government to boost start-up ecosystem in the nation.
Over 150 applications have been gained, of which the highest 20 had been selected on the foundation of scalability and enterprising innovations throughout six areas particularly products, applied sciences, food safety, provide chain, cold chain & packaging, the bank said.
Top 3 promising and innovative startups can be awarded via the President of India all over the valedictory consultation of the event on November 5, it added.
Yes Bank signs Rs 1,000 cr MoU with government
![Yes Bank signs Rs 1,000 cr MoU with government]()
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November 05, 2017
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