In a major milestone for India’s digital lending ecosystem, Central Bank of India has successfully completed the first-ever end-to-end digital supply chain finance transaction on PSB Xchange, a unified multi-lender platform developed by PSB Alliance in collaboration with Veefin Solutions Limited.
The transaction, which marked a breakthrough in digital credit delivery, was executed entirely online — from origination through a fintech partner to credit underwriting, offer, and acceptance — without any manual intervention.
The PSB Xchange platform is designed to connect public sector banks, private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and MSME loans. This development demonstrates that the platform is now fully operational and capable of enabling real-time credit flows across multiple institutions, improving transparency and efficiency in lending.
Central Bank of India’s General Manager for MSME, S.S. Murthy, said the bank is proud to be the first PSB to complete a live digital dealer finance transaction on PSB Xchange. “This milestone stands as a testament to our commitment to driving supply chain finance and delivering excellence in digital banking,” Murthy said.
Anjali Mohanty, MD & CEO of PSB Alliance, called the event a key milestone:
“Developed in collaboration with Veefin, PSB Xchange is designed to deliver efficiency, transparency, and scalability. This marks another significant step forward in our digital transformation journey.”
Raja Debnath, Chairperson & Managing Director of Veefin Group, said:
“This is a defining moment for India’s credit ecosystem. We’re witnessing the shift from concept to execution — proving that interoperable, secure, and scalable digital credit delivery is now a reality.”
About Veefin Solutions:
Headquartered in Mumbai and listed on the BSE SME platform, Veefin Group aims to become the world’s leading working capital technology provider. The company offers modular, AI-driven platforms across supply chain finance, trade finance, cash management, debt securitization, and digital lending, serving banks, NBFCs, and fintechs globally.
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