20th May, 2024: YES BANK, renowned for its innovative banking solutions, is strategically targeting India’s Elite and Rising Affluent Class to drive business growth. The bank recognizes that this segment is poised for a significant transformation, marked by increased disposable income and evolving consumer habits. According to the BCG CCI Proprietary Income Model, India’s affluent segment is projected to expand 2.3 times over the next decade, setting the stage for a major shift in consumer banking dynamics. A report by PRICE highlights that India’s middle class is expected to nearly double, comprising 61% of the total population by 2046-47. This surge in income levels and the expansion of the middle-class and high-income groups will fundamentally reshape future consumption patterns.
In response to this promising opportunity, YES BANK has announced the launch of YES Grandeur, an exclusive banking program tailored to meet the distinctive financial and lifestyle needs of India’s Elite and Rising Affluent Class. This initiative aims to cater to the sophisticated preferences of this demographic, positioning YES BANK at the forefront of the evolving financial landscape in India.