IndusInd Bank with ADB sets up partial guarantee to finance MSME in supply chains

New Delhi, Sept 3 (KNN) IndusInd Bank and Asian Development Bank (ADB) will jointly create a partial guarantee programme to encourage supply chain finance solutions in India. 

The private sector bank intends to expand its MSME portfolio and strengthen its existing strategies for the sector. 

The agreement will have an initial outlay of USD 70 million (Rs 560 crore).

Amitabh Saraff, head of financial services, SME Business and SCF, said the partnership would strengthen their SCF platform and provide scope for innovation. 

“We look forward to funding the entire ecosystem of a corporate entity by offering holistic SCF solutions, meeting end-to-end requirements of both corporate and their dealers or suppliers thereby being a true partner in their growth trajectory,” he said.

The bank’s SCF platform caters to all sectors across industries including automobile, steel, fast-moving consumer goods (FMCG), white goods, amongst others. (KNN Bureau)