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

PSB Alliance Pvt. Ltd has signed an agreement with Bank of India to onboard the institution as a lending partner on its PSB Xchange platform, India’s unified digital working capital finance platform. This collaboration aims to provide digital supply chain financing to MSMEs and dealers linked to participating anchor corporates through a unified, standardized process. By integrating Bank of India into this ecosystem, the partnership seeks to streamline credit assessment and accelerate the delivery of institutional working capital to the MSME sector.

Bank of India has officially joined PSB Xchange, India’s unified digital working capital finance platform, to offer supply chain finance solutions to eligible borrowers. This partnership allows the bank to provide financing to dealers and MSMEs associated with anchor corporates on the platform, utilizing a standardized digital onboarding and credit assessment process. According to Vinayak Shukla, General Manager at Bank of India, the move is designed to provide timely, digitally enabled working capital solutions to dealers within established corporate distribution ecosystems while strengthening the bank's focus on MSME financing.

The PSB Xchange platform serves as a centralized infrastructure connecting lenders, corporates, and ecosystem partners to reduce the complexity of multiple point-to-point integrations. By standardizing documentation and program execution, the platform supports faster implementation of dealer finance programs and more efficient portfolio monitoring. Anjali Mohanty, MD & CEO of PSB Alliance, emphasized that the evolution of supply chain finance requires these collaborative digital frameworks to support growth across industries, bringing all stakeholders onto a common platform to broaden MSME access to formal institutional finance.

Raja Debnath, Managing Director of Veefin Group, noted that Bank of India’s participation marks a significant milestone in strengthening the PSB Xchange ecosystem. The integration of the bank’s lending capabilities onto the unified digital platform is expected to increase the speed and efficiency with which corporate dealer networks can access institutional finance. This initiative demonstrates how technology and the extensive reach of public sector banks can work together to expand working capital access and improve the overall supply chain finance landscape for MSMEs in India.