Yes Bank, Grofers tie up to deliver cash at doorstep

Extending facility to deliver cash at the doorstep, Yes Bank has now tied-up with e-grocer Grofers allowing customers to get cash of up to Rs 2,000 when they order grocery online.

"Grofers, the on-demand e-commerce mobile and web application, is opening up a new avenue for people to get cash delivered at home, by partnering with Yes Bank," the bank said in a statement.

The cash delivery service, open to all back account holders, started on Tuesday across Mumbai, Gurgaon and Bengaluru. Other cities will be added to the list gradually.

Customers who wish to order cash withdrawal will have to buy grocery of minimum of Rs 2,000 and pair it with a special code to get the money.

"We cannot eliminate the need of currency notes as people sometimes require them for other reasons. This is our attempt to help customers. Grofers delivery executives will carry PoS machines (powered by Yes Bank) where customers can swipe and get cash within the comfort of their homes," said Ashneer Grover, Chief Financial Officer, Grofers.

Earlier, Yes Bank had partnered with app-cab service Ola to deliver cash-on-demand at doorstep.

"We are...in an endeavour to enable greater convenience of transactions, payments by card on delivery and also to bring cash to customers at the same time, by providing seamless withdrawal facilities using Yes Bank PoS machines," said Asit Oberoi, Group President, Transaction Banking Group, Yes Bank.

Grofers has seen a rapid growth of 40% in its order volume post demonetization (of old Rs 500 and Rs 1,000 denomination notes), said the release.

Yes Bank said it remains committed to Government's initiative to propel digital payments in India and move towards a less-cash economy.

Yes Bank