PSB Xchange Onboards Bank of India to Expand Digital Supply Chain Financing Across Corporate Ecosystems

PSB Alliance Pvt. Ltd and Bank of India have signed an agreement for onboarding Bank of India as a lending partner on the PSB Xchange platform, India's unified digital working capital finance platform.

Through this collaboration, Bank of India will offer supply chain finance to eligible borrowers associated with participating anchor corporates on the PSB Xchange platform. The partnership will enable digital onboarding, credit assessment and financing through a standardised process, helping Bank of India expand its digital supply chain finance reach while enabling faster access to institutional credit for MSMEs.

Building a Scalable, Multi-Participant Financing Ecosystem

PSB Xchange connects lenders, corporates and ecosystem partners through a unified platform. The onboarding of Bank of India strengthens the platform's lender network and broadens the availability of institutional finance for dealer ecosystems across industries.

The shared infrastructure reduces the need for multiple point-to-point integrations and supports faster programme implementation and portfolio monitoring.

Driving Digital Adoption in Supply Chain Finance

By standardizing onboarding, documentation and programme execution, PSB Xchange enables lenders and corporates to implement dealer finance programmes more efficiently and extend formal credit to a wider base of MSMEs.

Stakeholder Perspectives

Vinayak Shukla, General Manager, Bank of India, said: "Dealers and MSMEs are an integral part of India's business and distribution ecosystem. Our participation on PSB Xchange will enable Bank of India to provide timely and digitally enabled working capital solutions to dealers associated with established corporate anchors. This collaboration is aligned with our focus on strengthening MSME financing and expanding access to formal institutional credit."

Anjali Mohanty, MD & CEO, PSB Alliance said: "The evolution of supply chain finance requires collaborative digital frameworks that can support growth across industries. Through PSB Xchange, we seek to enable such frameworks by bringing lenders, corporates and ecosystem partners onto a common platform. Bank of India's onboarding further strengthens this network and broadens opportunities for MSMEs to access institutional finance."

Raja Debnath, Managing Director, Veefin Group, said: "Bank of India's participation is an important milestone in strengthening the PSB Xchange ecosystem. By bringing the Bank's lending capabilities onto a unified digital platform, we can enable corporate dealer networks to access institutional finance with greater speed and efficiency. This collaboration demonstrates how technology and the reach of public sector banks can work together to expand working capital access for MSMEs."

Looking Ahead

The onboarding of Bank of India further strengthens PSB Xchange's ability to support supply chain finance programs across industries. The platform will continue to expand its network of lenders, corporates and ecosystem partners to improve access to institutional working capital finance.

Shares of Veefin Solutions Limited was last trading in BSE at Rs. 321.15 as compared to the previous close of Rs. 322.80. The total number of shares traded during the day was 19400 in over 76 trades.

The stock hit an intraday high of Rs. 327.00 and intraday low of 316.00. The net turnover during the day was Rs. 6254900.00.

Source : Equity Bulls

Keywords

VeefinSolutions INE0Q0M01015 ITEnabledServices PSBXchange BankofIndia