IndusInd Bank partner with AfDB to support supply chain finance

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 entered into a partial guarantee program with the AfDB with an initial down payment of USD 70 million ( 560.0 crore), exclusively for the promotion of SCF solutions in India.

IndusInd Bank aims to increase its presence in MSME financing and this partnership will further strengthen various initiatives of the bank in this area. With SCF being a priority area, the bank has embarked on a series of strategic efforts, including the launch of new product structures for SCF. The Bank recently launched a state-of-the-art digital portal for SCF – “earlyCredit” enabling seamless 24/7 processing of SCF transactions for corporates, suppliers and dealers.

“At IndusInd Bank, we look forward to financing a company’s entire ecosystem by offering holistic SCF solutions, meeting the end-to-end requirements of companies and their dealers/suppliers, becoming a true partner in their growth trajectory. Partnering with a global organization like ADB strengthens our SCF platform, a leading provider in the country. This association will open up more opportunities for the Bank to innovate and offer our clients the best financing solutions said Amitabh Saraff, Manager – Financial Services, SMEs and SCF.

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