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Public sector banks in India have partnered with technology firm Veefin Solutions Ltd to offer supply chain financing for micro, small and medium enterprises (MSMEs) on a cloud-based platform. The collaboration, facilitated by PSB Alliance, a group of public sector banks, aims to bridge the estimated Rs 20-25 trillion ($270-340 billion) credit gap for MSMEs. The platform will enable communication between lenders and offer various financing options.

Mumbai (Maharashtra) [India], February 21 (ANI/NewsVoir): Global Supply Chain Finance platform Veefin announced today that it has crossed USD 12Bn in annualized disbursements globally, indicating widespread demand from Banks and Financial Institutions in stepping up credit access, especially for the underserved credit population - the micro, small and medium enterprises (MSMEs)

Get latest articles and stories on Business at LatestLY. Global Supply Chain Finance platform Veefin announced today that it has crossed USD 12Bn in annualized disbursements globally, indicating widespread demand from Banks and Financial Institutions in stepping up credit access, especially for the underserved credit population - the micro, small and medium enterprises (MSMEs). The tech firm has seen a 146 per cent Y-o-Y growth in disbursements through its SCF suite since Jan 2022. Business News...

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