A Reliable Advisor to Indian MSMEs: How Rana Kapoor Led Yes Bank’s YES GST programme
Among the institutions which actively enabled for a smooth transition to GST, Yes Bank was at the forefront. Its Founder and then-MD & CEO at the time of the implementation of GST, Rana Kapoor, called it the “most significant reform since liberalization in 1991” and showed faith in its potential to “envisage ‘One Economic India’”.
With the enactment of GST on 1 July 2017, the Indian taxation system entered a regime of One Nation, One Tax. The erstwhile tax structure levied taxes, direct and indirect, from anywhere between 25% to 40%. GST reconstituted the brackets and consolidated them into four slots of 5%, 12%, 18% and 28%. The nature of this change was so huge that the talk of a common goods and service tax within the financial circles went as back as the 1990s. Decades passed between studies, planning and crafting in order to make GST a reality for the Indian tax system.
Such an amount of time and consideration was necessitated by the fact that this particular reform would also require significant overhaul of economic, financial and industrial infrastructure in India. Among the institutions which actively enabled for a smooth transition to GST, Yes Bank was at the forefront. Its Founder and then-MD & CEO at the time of the implementation of GST, Rana Kapoor, called it the “most significant reform since liberalization in 1991” and showed faith in its potential to “envisage ‘One Economic India’”.
The Bank initiated the “YES GST” programme under Rana Kapoor to empower and enable MSMEs shift to the new system with full efficiency. At the launch, he stated, “This is a reform that can create anywhere between 2.5-3% incremental GDP growth benefits after 2-3 years”. Through the bank’s YES GST initiative, he affirmed, “MSMEs are the backbone of the economy and it is vital to ensure that they are GST prepared. Yes Bank has followed a unique knowledge-based approach that provides its stakeholders with well-informed and customized solutions.”
Some major roadblocks in the path to smooth transition included the operational change as well as state-wide registration of bank branches and transactions. With GST infrastructure, bank registration no longer remained centralized, which in effect, necessitated that cross-state intra-bank transactions would also be taxed. Further, the cost of up-scaling, employee training, policy redesign and complete revamp of registration compliance posed an immense challenge to the industry.
While the institutions with much larger transaction flow could easily offset any adverse effect of GST, the small and the micro industries needed a formidable helping hand. Taking up the responsibility, Rana Kapoor focused Yes bank’s policies and schemes to aid and empower the MSME sector first and foremost. His personal and professional oversight of the Yes GST scheme ensured that MSMEs are well-equipped to operate in the new tax regime.
By 2018, the bank had organized 100+ GST awareness workshops across the nation and aided over 9500 MSMEs through its YES GST initiative. The scheme encouraged compliance with GST by providing MSMEs with an overdraft facility of up to Rs. 1 crore based on GST returns. Yes Bank became the first in the industry to not only support the MSMEs in their transition to the unchartered territory but also to assist the government in its economic agenda.
Under Rana Kapoor’s leadership, the bank’s engagement with the MSME sector had reached Rs. 32,500 crores by March 31, 2018. He further ensured that MSMEs got quick and effortless access to capital which effectively boosted the Indian economy through its reformatory period. Headlining the GST rollout, the bank planned a disbursement of Rs. 1,000 crores through its Yes GST for FY18-19.
Rana Kapoor’s belief in MSMEs as a crucial sector for the Indian economy was the vision behind Yes GST. He expressed, “The orientation period will be between 12 and 18 months but the fact is that the commensurate gains are going to be so disproportionately higher, that it is only a matter of time MSMEs will reap the benefits”. Driven by the vigor to empower those whom he can, his leadership both at an individual level and through his bank carved his position as an enabler of MSME sector’s growth and development.
The Zora, Delhi Convention Center, located near Jawaharlal Nehru Stadium in Delhi, was inaugurated in August 2024. This convention center is specifically designed to cater to global event needs.
Spanning over 2 lakh square feet, The Zora features impressive architectural elements, including 38-foot high ceilings and two pre-designed halls, crafted by the esteemed designer Walid Baz, founder of Baz Events. It serves as an exquisite venue for weddings, festivals, corporate gatherings, and a variety of other events.
In an exclusive interview with APN News, Jyoti Kalash, Chief Administrative Officer (CAO) and retired IAS officer stated, “The design of this event center is striking. Upon entering the main hall, guests will feel transported to another realm, as there is a glass floor beneath them that can easily support over 1,000 people.”
“The Zora stands out due to its nature-inspired design and outstanding craftsmanship, which was accomplished in just 80 days by an international team, establishing a new benchmark for luxury in India,” the former IAS officer emphasised.
Dhananjay Kumar, CEO of The Zora – Delhi Convention Center, also spoke with APN News, stating, “We are offering not just a venue, but a destination for unique, unforgettable experiences. This luxurious and stunning space was completed within an impressive timeframe of only 80 days.”
Know what is special in ‘The Zora’
Prime location on Lodhi Road, convenient location for all.
Parking facility for more than 2000 vehicles.
Designed by award-winning architectural designer Walid Baz, bringing world-class expertise to Delhi.
Completed within a time period of just 80 days.
Spread over 2 lakh sq ft with two pre-designed halls and spacious customisable areas.
The Zora’s design is inspired by nature, offering guests an ambiance of beauty and tranquility.
750 tonnes of iron has been used for strength.
700 intelligent lights have been used with over 20 modes to match the mood of the ceremony.
Another large dining area is separate from the Grand Ballroom.
The interiors look beautiful and are adorned with intricate handmade designs.
The International Institute of Mass Communication (IIMM) Delhi continues to solidify its reputation as a premier institution for media and communication studies by achieving 100% placement for its Post Graduate Diploma in Advertising and Public Relations (PGD ADPR) course for the third consecutive year. This remarkable achievement underscores the institution’s commitment to academic excellence and its pivotal role in shaping future leaders of the media industry.
A Legacy of Excellence
Ms. Simrat Gulati, an IIMC Alumna and Advertising veteran, who heads this program at IIMM Delhi said, “ADPR is one of IIMM Delhi’s oldest and most prestigious programs. Established with the vision of providing comprehensive education and training in the fields of advertising and public relations, this course has evolved to meet the dynamic demands of the industry. The curriculum is meticulously designed to combine theoretical knowledge with practical skills, ensuring that students are well-prepared for the challenges of the professional world.”
Industry Recognition
Industry experts and media professionals also hold IIMM Delhi’s ADPR program in high regard. Vivek Satya Mitram, a renowned Brand Strategist and co-founder at Bharat Dialogues said, “I have interacted with IIMM Students in workshops & events, the rigorous training included in their ADPR course and exposure to real-world scenarios are indeed a benchmark in media education. We at Bharat Dialogues regularly hire interns from IIMM Delhi for their creativity, strategic thinking, and ability to adapt to the rapidly changing media landscape.”
Several key factors contribute to the consistent placement success of the ADPR program at IIMM Delhi added their Academic Director Pooja Priyamvada. “We at IIMM Delhi have fostered strong relationships with leading companies in the advertising and PR sectors. These partnerships provide students with ample internship opportunities, live projects, and exposure to industry practices. We are privileged to have a highly qualified and experienced line up of faculty members & Guest lecturers who bring a wealth of industry knowledge and academic expertise.”
The industry-readiness of any curriculum requires that it is regularly updated to reflect the latest trends and technologies in the media industry. This ensures that students are equipped with relevant skills and knowledge that make them highly employable. As per many ex-students that is what set them apart from the crowd in the highly competitive media industry. Through mock interviews, resume building workshops, and career counseling sessions, the placement cell ensures that students are well-prepared to enter the job market.
The 100% placement record over the past three years is a testament to IIMM Delhi’s unwavering commitment to excellence. As the media industry continues to evolve, the institute remains dedicated to providing exemplary education and training that empowers students to become leaders in their field.
Established in 1999, the International Institute of Mass Media (IIMM) Delhi is a premier institution dedicated to providing high-quality education in mass media and communication. With a focus on practical training, industry exposure, and academic excellence, IIMM Delhi offers a range of undergraduate, postgraduate, and diploma programs designed to prepare students for successful careers in media and communication.
For more information about IIMM Delhi and its programs, please visit www.iimmdelhi.com
Nima Sulaiman joins HiLITE Group Board, her father gifts her a Porsche
Nima expressed her gratitude for the opportunity and her eagerness to contribute to the group’s success.
Published
8 months ago
on
April 19, 2024
By
In a move signalling a generational shift in leadership and a commitment to empowering women in the business world, Nima Sulaiman, the daughter of HiLITE Group Chairman P. Sulaiman, has been welcomed onto the board of directors with a stunning gesture—a Porsche worth Rs 3 crore.
At just 18, Nima began her journey with HiLITE Group as a customer service trainee at Hug a Mug Cafe. From there, she transitioned to management roles, showcasing her talent and dedication. With a B.Sc in Economics from the University of London in Singapore, Nima brings a unique blend of academic prowess and practical experience to her new position.
As the Director of HiLITE Urban, a subsidiary of HiLITE Group, Nima is poised to continue the company’s legacy of excellence in construction and development. With a focus on providing quality living spaces and international standards in India, HiLITE Group has been instrumental in transforming Kozhikode city with its innovative projects that include premium residential buildings, ultra modern business parks, state-of-the-art malls and world-class entertainment theaters.
Group Chairman P. Sulaiman expressed his sentiments regarding his daughter’s recent appointment within the Group. He said, “I am immensely proud of Nima’s accomplishments and firmly believe that she is capable to take on greater responsiblities. HiLITE Group has always shed light on the significance of acknowledging and empowering women in leadership positions.” He further emphasised, “The emotional intelligence that women bring to the table is pivotal for fostering effective leadership and establishing trust.”
Nima, in turn, expressed her gratitude for the opportunity and her eagerness to contribute to the group’s success. “Inspired by my experiences visiting renowned malls worldwide, I strive to enrich the atmosphere of HiLITE malls and other projects, infusing them with vibrancy and youthfulness,” she said.
The appointment of Nima Sulaiman to the board of directors represents a significant milestone for HiLITE Group and a testament to the company’s commitment to innovation and inclusivity in the business world. As Nima takes on her new role, she stands as a beacon of inspiration for young women entrepreneurs in South India and beyond.
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