BOB, Central Bank, IOB, and UCO Bank Join via PSBXchange

03 Apr 2025 CW Team

PSBXchange is designed as a common technology bridge for banks and NBFCs, facilitating supply chain finance and small business loans. This first-of-its-kind platform integrates Fintechs, B2B marketplaces, accounting service providers, and new-age data sources with multiple lenders' core banking systems, streamlining credit delivery.

Highlighting the significance of this collaboration, Anjali Mohanty, MD, PSB Alliance, stated,"With Bank of Baroda, Central Bank of India, UCO Bank, and Indian Overseas Bank onboard, PSBXchange is expanding structured supply chain finance to SMEs across India. The combination of the banks' reach and the platform’s digital capabilities is ensuring equitable and data-driven access to working capital."

Raja Debnath, Chairperson & CEO, Veefin Group, added:

"With MSMEs contributing over 30% to India’s GDP, PSBXchange is set to revolutionise financial inclusion. By offering faster and higher-quality credit access, this platform is reshaping the lending landscape, empowering small businesses with better growth opportunities."

Eric Anklesaria, Advisor, PSB Alliance, emphasised the platform’s impact, stating:

"PSB Alliance continues to drive industry transformation—whether through revolutionising doorstep banking or launching the world’s largest unified SCF platform. PSBXchange is a game-changer in increasing accessibility and inclusivity across the banking ecosystem."

This initiative marks a pivotal step in India's financial sector, ensuring that MSMEs—often underserved in traditional credit systems—benefit from a digital-first, streamlined lending experience.

(BSE)

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

In a major push for MSME financing in India, Bank of Baroda, Central Bank of India, Indian Overseas Bank, and UCO Bank have joined PSBXchange, the world’s largest unified Supply Chain Finance (SCF) platform, developed by PSB Alliance and powered by Veefin Solutions. This strategic move aims to enhance financial inclusion for MSMEs by providing seamless access to credit. PSBXchange is designed as a common technology bridge for banks and NBFCs, facilitating supply chain finance and small business loans. This first-of-its-kind platform integrates Fintechs, B2B marketplaces, accounting service providers, and new-age data sources with multiple lenders' core banking systems, streamlining credit delivery. Highlighting the significance of this collaboration, Anjali Mohanty, MD, PSB Alliance, stated,With Bank of Baroda, Central Bank of India, UCO Bank, and Indian Overseas Bank onboard, PSBXchange is expanding structured supply chain finance to SMEs across India. The combination of the banks' reach and the platform’s digital capabilities is ensuring equitable and data-driven access to working capital. Raja Debnath, Chairperson & CEO, Veefin Group, added: With MSMEs contributing over 30% to India’s GDP, PSBXchange is set to revolutionise financial inclusion. By offering faster and higher-quality credit access, this platform is reshaping the lending landscape, empowering small businesses with better growth opportunities. Eric Anklesaria, Advisor, PSB Alliance, emphasised the platform’s impact, stating: PSB Alliance continues to drive industry transformation—whether through revolutionising doorstep banking or launching the world’s largest unified SCF platform. PSBXchange is a game-changer in increasing accessibility and inclusivity across the banking ecosystem. This initiative marks a pivotal step in India's financial sector, ensuring that MSMEs—often underserved in traditional credit systems—benefit from a digital-first, streamlined lending experience. (BSE)

Technology

07 Jul 2026

Kellton Tech, AEC Form JV to Drive GCC Energy Digitalisation

Kellton Tech EU, a wholly owned subsidiary of Kellton Tech Solutions, has formed a strategic joint venture (JV) with Kuwait-based Action Energy Company (AEC) to accelerate AI-led digital transformation across the Gulf Cooperation Council (GCC) energy sector.Under the agreement, AEC will hold a 51 per cent stake in the JV, while Kellton Tech EU will own the remaining 49 per cent. The venture has been established for an initial five-year term and will focus on delivering digital oilfield solutions, enterprise software, cloud computing, cybersecurity, enterprise resource planning (ERP), systems i..

Equipment

07 Jul 2026

Plant & Equipment Secures Funding to Expand Auction Business

Plant & Equipment (P&E), a global heavy equipment marketplace, has secured asset-backed financing to accelerate the growth of P&E Auctions, its auction business serving buyers and sellers across the Middle East, Africa and other international markets.The investment will be used to acquire physically inspected construction equipment, lifting machinery and commercial vehicles, enabling the company to provide minimum guarantees on assets sold through its auction platform.Launched in December 2023, P&E Auctions has expanded rapidly following the success of the company's online mark..

Equipment

07 Jul 2026

Michelin Opens Two New Retail Service Centres in North India

Michelin India has expanded its retail network in North India with the launch of two new Michelin Tyres & Services (MTS) stores in Amritsar and Panchkula. Opened in partnership with National Auto and Universal Tyres, respectively, the new outlets aim to strengthen the company's presence in one of India's fastest-growing automotive markets.Located on Loharka Road in Amritsar and in the Industrial Area of Panchkula, each 5,000-sq-ft facility offers Michelin's range of passenger car and two-wheeler tyres, including the Primacy, Pilot Sport, Latitude Sport and LTX Trail series. The centres als..