Mumbai: In a bid to develop cooperative tourism in rural India, private sector Yes Bank has been appointed as Country Manager-India by Queen Margaret University, Scotland.

The agreement was signed on March 8, by Queen Margaret University and YES Bank in Edinburgh, a press release issued on Thursday stated.

The project has initially identified two states-– Uttarakhand and West Bengal to undertake this initiative.

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.

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's Founder, Managing Director & CEO, Rana Kapoor, said, "Our Bank has consistently advocated the need for innovative and inclusive scalable business models when structuring projects for the micro-sector...this is the way forward not just for rural development in India, but also towards financial inclusion, which can be best achieved by driving growth in the rural economy."

(Agency)