Bank of India joins PSB Xchange platform

By Milan Rojan

Bank of India has joined the PSB Xchange platform as a lending partner, expanding digital supply chain finance for corporates and MSMEs through India’s unified working capital finance platform.

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.”

The partnership has enabled Bank of India to offer supply chain finance to eligible borrowers linked to participating anchor corporates on PSB Xchange. The collaboration has supported digital onboarding, credit assessment and financing through a standardised process, helping the bank broaden its digital lending reach while improving access to institutional working capital for MSMEs.

Anjali Mohanty, Managing Director and CEO of 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.”

PSB Xchange has connected lenders, corporates and ecosystem partners through a unified platform, reducing integration complexity while supporting faster programme implementation and portfolio monitoring. The onboarding of Bank of India has strengthened the platform’s lender network and expanded access to institutional finance for dealer ecosystems.

PSB Xchange said it will continue expanding its network of lenders and corporates to improve digital access to working capital finance and support wider adoption of supply chain finance across India’s corporate ecosystem.