IndusInd bank, a private sector bank announced its collaboration with Asian Development Bank (ADB) to develop a partial guarantee programme to support supply chain finance solutions in India.
The IndusInd Bank claimed in a statement that the initial investment will be of Rs. 560 crore. It had signed a partial guarantee programme with Asian Development Bank (ADB) with the sole purpose of pushing SCF solutions in India.
IndusInd Bank and Asian Development Bank: Important key points
- To expand its MSME portfolio, Asian Development Bank will support a number of IndusInd activities.
- With SCF as a focus area, the IndusInd Bank has launched a number of strategic initiatives, including the development of new product structures for SCF.
- EarlyCredit, a cutting-edge digital platform for SCF that the IndusInd Bank just unveiled, enables 24-7 seamless processing of SCF transactions for companies, suppliers, and dealers.
Amitabh Saraff, head of financial services, SME Business and SCF, said the partnership would strengthen their SCF platform and provide scope for innovation. “We look forward to funding the entire ecosystem of a corporate entity by offering holistic SCF solutions, meeting end-to-end requirements of both corporate and their dealers or suppliers thereby being a true partner in their growth trajectory,” he said.
