Founded by Rana Kapoor in 2004, Yes Bank has grown exponentially to become the fifth largest private bank in the country. However, what sets them apart is their dedicated commitment and initiatives towards a cleaner, greener and more sustainable India. The financial institution has received several prestigious awards, such as The Karlsruhe Sustainable Finance Award, Asia Sustainability Reporting Award, Golden Peacock Awards, QualTech Prize for Sustainability, and more for their remarkable initiatives towards sustainability, climate change, biodiversity and the environment. Another feather in their cap was the more recent ‘Most Responsible Tourism Project/Initiative’, it received at the National Tourism Awards hosted by the Indian Ministry of Tourism. The award was handed by Sumitra Mahajan, the then Lok Sabha Speaker and Mahesh Sharma, former Minister of State for Tourism and Culture.
Founder and CEO of Yes Bank, Rana Kapoor remarked, “Globally, tourism is a $ 4.7 trillion industry, which is unfortunately responsible for more than 5% of greenhouse gas emissions, 1% of water consumption, 5 million tonnes of waste generation, increased carbon, along with destruction of local flora and fauna, as well as the sanctity of the place.” He proposed responsible and sustainable tourism as the only solution to this massive catastrophe that tourism is wrecking on the planet. In this essence he conceptualised, launched and implemented a ground breaking project, Edge of India.
This award winning Edge of India project, launched by Yes Bank, is wholly a community based tourism initiative, that is overseen and managed by a network of active co-operative Destination Management Organisations (cMDO). Its primary aim is to create a vibrant ethos of sustainable socio-economic development and building rural communities to facilitate and accommodate responsible tourism. To make the plan run smoothly cDMOs are appointed, who help with knowledge and facilitate access to the lesser known scenic hamlets, heritage spots and communities of rural India. Through them tourists and travellers can experience an authentic experience of the community through home-stays and curated itineraries offered by the cDMOs.
The Edge of India initiative soon attracted massive international attention and gained immense momentum, with esteemed names such as Edinburgh based Queen Margaret University, Dunira Strategy of Edinburgh and eZone voming forward to collaborate nd partner up with Yes Bank on this unique project. The initiative has presently reached across the villages in the Bageshwar, Ranikhet and Pithoragarh districts of Uttarakhand as well as Purulia in West Bengal. Its aim is to offer the necessary exposure to the huge potential of these heritage location and thus, to set up sustainable tourism businesses. It focusses on running the tourism through an active cooperative model, which ensures not only that the benefits are enjoyed by the native host community, but also promotes a cleaner and more respectful tourism model. Yes Bank has also offered a number of training programmes to equip and assist the local communities in the creation and running of a self-sustaining tourism business.
On receiving the coveted National Award, Rana Kapoor commented, “This recognition means a lot to us and our untiring efforts, but it is also an inspiration to carry on with thgis journey. We still have a long road ahead and will not stop until the whole of India majorly runs on sustainable tourism, benefitting local businesses and communities.” Yes Bank has been instrumental in identifying and promoting strategic sunrise sectors of the country such as tourism, food and agro bases business, healthcare, life sciences, media & entertainment and more. They are primarily geared towards finding sustainable solutions, that benefit communities, end customers, as well as reduce the impact on the environment.
India’s only Greenfield bank, Yes Bank, ever since its inception, has been actively involved in green initiatives, climate change and sustainable rural development via employability boosting activities and more. They been involved in the planting of thousands of trees, have contributed to the protection of several endangered species of India and have made great progress in promoting responsible tourism. The bank and its excellent efforts have been regonised and they have also been bestowed with the ‘Best Bank for Promoting Tourism’ Award by Assocham at their 9th International Conference-cum-Awards on Civil Aviation & Tourism.