Yes Bank, India's fourth largest private sector bank, announced partnership with 10 leading smart cities in India to launch an industry-first 'Collaboration-as-a ��"Service' platform to address urban development challenges.

As a part of its newly launched YES SCALE Smart City Accelerator, the Bank is inviting startups from around the world to collaborate with technology leaders like Bosch and Dell EMC and work on problem statements provided by respective Smart cities viz. Gurugram, Chandigarh, Rajkot, Surat, Vadodara, Aurangabad, Nasik, , Warangal, Karim Nagar and Puducherry.

Rana Kapoor, MD & CEO, Yes Bank said, ''This is a significant step towards creating 'Collaboration-as-a-service' economy and re-looking at urbanization as an opportunity, not a problem. YES BANK’s cross industry collaboration through YES SCALE Smart City accelerator will empower these cities with innovative solutions to seamlessly connect people, processes & devices and enable administrators to respond faster to citizen’s needs while also creating new revenue sources. The strategy is fully aligned with the national agenda of moving India from Fragile 5 to making India a USD 5 tn economic super power.''

Shares of the bank gained Rs 7.4, or 1.93%, to settle at Rs 391.20. The total volume of shares traded was 968,274 at the BSE (Thursday).