Links between the Granite City and the India were strengthened today (Monday 6 October) as a Memorandum of Understanding (MoU) was signed between the University of Aberdeen and Indian private sector bank, YES BANK.
Establishing future opportunities for academic and research collaboration, the agreement promotes the exchange of cultures and advancement of knowledge between the University and the organisation.
YES BANK India's new age private sector bank is the only "Greenfield" bank to be set up in India in the last decade.
Adopting a unique knowledge banking approach to offering solutions that go beyond the traditional realm of banking, the bank has formed a specialized Development and Knowledge Banking Division focusing on key growth sectors like Infrastructure, Food & Agribusiness, Lifesciences, Media & Technology, and Manufacturing & Textiles, among others.
Professor Dominic Houlihan, Vice Principal for Research and Commercialisation, University of Aberdeen and Tushar Pandey, Executive Vice President & Country Head, Strategic Initiatives & Advisory Government Group, YES BANK signed the MoU on behalf of each organisation today.
Professor Houlihan said: "Fostering collaborative opportunities with industry leading organisations from across the globe is a key objective for the University of Aberdeen. The signing of the MoU with YES BANK today is part of our strategy to nurture links with India and promote research collaboration and sharing of expertise.
"Initial discussions are already taking place with YES BANK to create partnerships in areas including business, public policy, environmental science and tourism. For example intended future collaborations include experts from the University based project ACES (Aberdeen Centre for Environmental Sustainability), playing a key part in informing our collaborators at YES BANK on crucial issues for the Indian economy and environment including climate change and sustainable development."
Tushar Pandey said "This collaboration between YES BANK & the University of Aberdeen will strengthen our larger efforts at inducing innovation into policy & governance mechanisms; implementation and commercialization of innovative research and also the adaptation of some successful models to make them relevant to an Indian context and to some other developing economies. It will demonstrate the strong benefits of university – industry collaboration for all stakeholders".
"YES BANK also has a deeper understanding of some emerging areas such as clean energy and sustainable development models, and we see positive value in linking with ongoing efforts of the University where wider industry support and participation is already recognised as very necessary. YES BANK can showcase the important role that banks can play in the successful implementation of these themes."