Yes Bank Launches Indias First Social Deposit Account (21-Feb-2012)
Yes Bank, India's fourth largest private sector bank, in association with CARE India, a humanitarian relief and development NGO working in India for more than 60 years, has launched India's first social deposit account (SDA). Yes Bank and CARE India have signed a strategic memorandum of understanding (MOU) to make this facility available, exclusively for the bank’s customers.
The social deposit account (SDA) is an evolution of the regular fixed deposit account where customers have the option of donating their interest income to a social cause through CARE India. The SDA formalizes the act of philanthropic giving in India by providing a highly transparent and accountable channel to regularly donate and participate in the development of the nation, whilst enjoying fantastic interest returns on deposits.
CARE has been working in India for over 60 years, focusing on ending poverty through improvement in the lives and livelihoods of women from poor and marginalised communities.
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