IndusInd Bank on Friday announced a partnership with the Asian Development Bank (ADB) to support and promote supply chain finance (SCF) solutions in India. The Bank has entered into a Partial Guarantee Program with ADB with an initial outlay of USD 70 million ( 560.0 crore), to promote SCF solutions especially in India.
IndusInd Bank aims to increase its presence in MSME financing and this partnership will further strengthen the Bank’s various initiatives in this area. With SCF being a focus area, the Bank has undertaken several strategic initiatives including the launch of new product structures for SCF. The Bank has recently launched a state-of-the-art digital portal for SCF – ‘Early Credit’ which enables 24X7 seamless processing of SCF transactions for Corporates, Suppliers and Dealers.
“At IndusInd Bank, we look forward to finance the entire ecosystem of a corporate entity by offering holistic SCF solutions, meeting the end-to-end requirements of both the corporate and their dealers/suppliers, thereby enhancing their growth trajectory. Our partnership with a global organization like ADB strengthens our SCF platform, which is a leading provider in the country. Amitabh Saraf, Head – Financial Services, SME Business & SCF said, “This association is our great addition to the bank. Will open opportunities to innovate and empower customers with best-in-class financing solutions.
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