Central Bank of India executes first fully digital SCF deal on PSB Xchange

22 Oct 2025 CW Team

PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead flowed from a fintech partner on the platform to a participating lender, which used the complete PSB Xchange technology stack to underwrite, process, and extend a financing offer digitally. The corporate accepted the offer directly on the fintech interface, completing the journey without manual intervention.

Developed by PSB Alliance in partnership with Veefin Solutions, PSB Xchange offers a transparent, efficient, and scalable framework for digital credit delivery. The platform aims to strengthen PSBs’ ability to serve MSMEs and streamline credit access through real-time, multi-institutional integration.

S.S. Murthy, GM – MSME, Central Bank of India, said, “Central Bank of India is proud to be the first PSB on PSB Xchange to complete the inaugural Dealer Finance transaction with a leading footwear player. This achievement reflects our commitment to driving excellence in supply chain finance.”

Anjali Mohanty, CEO & MD, PSB Alliance, added, “The successful completion of the first transaction by CBI marks a key milestone in advancing digital supply chain financing across PSBs. Developed with Veefin, PSB Xchange delivers transparency, scalability, and efficiency through a unified platform.”

Raja Debnath, Chairperson & Managing Director, Veefin Group, remarked, “This milestone validates the vision of building a single interoperable digital rail where lenders, fintechs, and corporates transact seamlessly. It’s a proud moment for India’s digital credit ecosystem and the future of supply chain finance.”

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead flowed from a fintech partner on the platform to a participating lender, which used the complete PSB Xchange technology stack to underwrite, process, and extend a financing offer digitally. The corporate accepted the offer directly on the fintech interface, completing the journey without manual intervention. Developed by PSB Alliance in partnership with Veefin Solutions, PSB Xchange offers a transparent, efficient, and scalable framework for digital credit delivery. The platform aims to strengthen PSBs’ ability to serve MSMEs and streamline credit access through real-time, multi-institutional integration. S.S. Murthy, GM – MSME, Central Bank of India, said, “Central Bank of India is proud to be the first PSB on PSB Xchange to complete the inaugural Dealer Finance transaction with a leading footwear player. This achievement reflects our commitment to driving excellence in supply chain finance.” Anjali Mohanty, CEO & MD, PSB Alliance, added, “The successful completion of the first transaction by CBI marks a key milestone in advancing digital supply chain financing across PSBs. Developed with Veefin, PSB Xchange delivers transparency, scalability, and efficiency through a unified platform.” Raja Debnath, Chairperson & Managing Director, Veefin Group, remarked, “This milestone validates the vision of building a single interoperable digital rail where lenders, fintechs, and corporates transact seamlessly. It’s a proud moment for India’s digital credit ecosystem and the future of supply chain finance.”

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