05

October

YES BANK ENTERED INTO MOU ON ZERO DEFECT ZERO EFFECT (ZED) WITH QUALITY COUNCIL OF INDIA

Quality Council of India (QCI), an autonomous body setup by Ministry of Commerce & Industry, Government of India has signed an MoU with the YES Bank for promotion & implementation of Zero Defect Zero Effect (ZED) Certification Scheme. The MoU was signed on 5th October 2018.


The MoU was signed by Mr. Rajan Pental, Group President & Group Head: Branch & Retail Banking, YES Bank and Dr. R. P. Singh, Secretary General, Quality Council of India. During the tenure of this MoU, YES Bank has proposed to offer preferential pricing to ZED rated MSMEs to the tune of 0.5% on the applicable Rate of Interest and 0.5% on Processing Fee on the standard program pricing.


The ZED concept, which has been mooted by our Hon’ble Prime Minister, is expected to play an important role in the process of culture creation amongst entrepreneurs of our country. Our Prime Minister’s vision, of India being a manufacturing hub of the world through the Make in India initiative and inculcating ZED practices amongst our entrepreneurs, has now taken shape in the form of a national level scheme "Financial Support to MSMEs in ZED Certification Scheme” of Ministry of MSME and MSMEs have begun embarking on this journey. Quality Council of India is the National Monitoring and Implementation Unit (NMIU) for this scheme.


Quality Council of India (QCI) was established as the National Accreditation Body on recommendations of expert missions of the European Union after consultations in the Inter-Ministerial Task Force, the Committee of Secretaries and the Group of Ministers in 1996. It came into existence in 1997 through a Cabinet decision as an autonomous non-profit organization through seed funding by the Indian government and the Indian industry. The current Chairman is Mr. Adil Zainulbhai who was appointed by the Hon’ble Prime Minister Shri Narendra Modi.


Details of MoU: Click Here


MoU

  • date

    Fri 05 October 2018