Mumbai: YES BANK has been appointed as the 'Country Manager' for India by Queen Margaret University, Scotland - UK, for the development of a co-operative tourism project in rural India.
The pilot project is aimed at showcasing the potential of tourism in achieving inclusive and sustainable economic development, and the need to introduce an innovative scalable business model with involvement of cooperatives.
YES BANK is the only Indian Bank in this partnership which will demonstrate a first-of-its-kind knowledge exchange platform between academic and business tourism specialists, international NGOs and a Bank engaging to achieve development in Rural India. The project has initially identified two states – Uttarakhand and West Bengal to undertake this initiative. The agreement was signed on March 8, 2011 by Queen Margaret University and YES BANK in Edinburgh, Scotland, UK.
The project, being funded from the Scottish Government's International Development Fund will establish a co-operative tourism development project in rural India that will run over a period of two years and nine months.
Queen Margaret University, the lead partner has experts with substantial proficiency in international tourism, social enterprise projects in its School of business, and Management & Enterprise, and will contribute through its research on the development of a sustainable business model. They will work in partnership with Dunira Strategy, the Edinburgh based tourism consultancy, which will directly oversee Destination Development. The project aims to use Scottish expertise to deliver sustainable economic development in some of the most socially and economically disadvantaged communities in rural India.
Through the Strategic Initiatives & Government Advisory Division (SIGA), YES BANK as Country Manager will facilitate in-country activity and expertise including advising the project on home-country dynamics, leveraging local networks, introductions to key stakeholders, project related activities and logistics in the field. YES BANK will also partner in exploring and identifying opportunities for replicating the model. The Bank will jointly document outcomes towards showcasing its potential as a mass-development model in India and internationally, including taking this to the Government of India for its consideration as a part of policy.
