Mumbai, India | July 08, 2026: PSB Alliance Pvt. Ltd and Bank of India have signed an agreement for onboarding Bank of India as a lending partner on the PSB Xchange platform, India’s unified digital working capital finance platform.
Through this collaboration, Bank of India will offer supply chain finance to eligible borrowers associated with participating anchor corporates on the PSB Xchange platform. The partnership will enable digital onboarding, credit assessment and financing through a standardised process, helping Bank of India expand its digital supply chain finance reach while enabling faster access to institutional credit for MSMEs.
Building a Scalable, Multi-Participant Financing Ecosystem
PSB Xchange connects lenders, corporates and ecosystem partners through a unified platform. The onboarding of Bank of India strengthens the platform’s lender network and broadens the availability of institutional finance for dealer ecosystems across industries.
The shared infrastructure reduces the need for multiple point-to-point integrations and supports faster programme implementation and portfolio monitoring.
Driving Digital Adoption in Supply Chain Finance
By standardizing onboarding, documentation and programme execution, PSB Xchange enables lenders and corporates to implement dealer finance programmes more efficiently and extend formal credit to a wider base of MSMEs.
Stakeholder Perspectives
Vinayak Shukla, General Manager, Bank of India, said: “Dealers and MSMEs are an integral part of India’s business and distribution ecosystem. Our participation on PSB Xchange will enable Bank of India to provide timely and digitally enabled working capital solutions to dealers associated with established corporate anchors. This collaboration is aligned with our focus on strengthening MSME financing and expanding access to formal institutional credit.”
Anjali Mohanty, MD & CEO, PSB Alliance said: “The evolution of supply chain finance requires collaborative digital frameworks that can support growth across industries. Through PSB Xchange, we seek to enable such frameworks by bringing lenders, corporates and ecosystem partners onto a common platform. Bank of India’s onboarding further strengthens this network and broadens opportunities for MSMEs to access institutional finance.”
Raja Debnath, Managing Director, Veefin Group, said: “Bank of India’s participation is an important milestone in strengthening the PSB Xchange ecosystem. By bringing the Bank’s lending capabilities onto a unified digital platform, we can enable corporate dealer networks to access institutional finance with greater speed and efficiency. This collaboration demonstrates how technology and the reach of public sector banks can work together to expand working capital access for MSMEs.”
Looking Ahead
The onboarding of Bank of India further strengthens PSB Xchange’s ability to support supply chain finance programs across industries. The platform will continue to expand its network of lenders, corporates and ecosystem partners to improve access to institutional working capital finance.
About Bank of India
Bank of India is one of India’s leading public sector banks, providing a wide range of banking and financial services to individuals, MSMEs, corporates and institutions. The Bank continues to strengthen its MSME and working capital offerings through technology-enabled financial solutions.
About PSB Xchange
PSB Xchange is a unified, multi-lender digital working capital ecosystem powered by PSB Alliance and developed by Veefin. The platform connects banks, NBFCs, corporates, fintechs and MSMEs to enable the digital execution of supply chain finance and working capital programmes.
About PSB Alliance
PSB Alliance, a company promoted by 12 Public Sector Banks, to deliver tech-driven, secure services to the banking sector that foster innovation and redefine banking excellence.
