PSBs Join PSBXchange to Boost MSME Credit

04 Apr 2025 CW Team

In a major push for MSME financing, four public sector banks—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, the platform aims to bridge financial gaps for small businesses across India.

PSBXchange will act as a common digital bridge, connecting banks, NBFCs, fintech firms, B2B marketplaces, and accounting service providers. This initiative is set to revolutionize supply chain financing by integrating real-time data-driven credit solutions.

Expanding MSME Credit Access

With MSMEs contributing nearly 30% to India’s GDP, ensuring their access to structured credit is crucial. Anjali Mohanty, Managing Director of PSB Alliance, emphasized that this digital infrastructure would allow banks to extend credit to a broader base of SMEs.

Raja Debnath, Chairperson & CEO of Veefin Group, highlighted how the platform would redefine financial inclusion by enabling faster, high-quality credit access for MSMEs.

Advisor to PSB Alliance, Eric Anklesaria, noted that PSBXchange is a game-changer in digital banking, much like the Alliance’s previous initiatives in doorstep banking.

By leveraging advanced technology, PSBXchange is poised to transform lending, making credit more accessible, data-driven, and efficient for India’s small businesses.

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..