Vedanta Aluminium Partners With Central Bank Of India For MSME Financing

ENA MSME 2025-06-11 15:22:18 New Delhi, Jun 11 (KNN) Vedanta Aluminium has entered into a Memorandum of Understanding with the Central Bank of India to provide collateral-free financing solutions to its downstream customers, with a primary focus on Micro, Small, and Medium Enterprises. The partnership will be executed through Vedanta's subsidiary, Bharat Aluminium Company (BALCO), and aims to enhance financial accessibility within the aluminium value chain. The financing programme will offer working capital loans ranging from Rs 10 lakh to Rs 10 crore, featuring minimal documentation requirements and competitive interest rates aligned with industry standards. The initiative will be integrated into Vedanta Metal Bazaar, the company's digital platform for aluminium products, enabling customers to access financing options alongside real-time invoice tracking and lien marking capabilities. The digital platform will host the financing facility with standardised repayment terms of 90 days, including a 15-day grace period for borrowers. The programme incorporates API-based services designed to expedite loan disbursements and enhance process transparency. Currently, over 100 customers utilise financing services through the platform in partnership with four existing banking institutions. The addition of Central Bank of India, with its extensive national branch network, is expected to significantly expand the reach and accessibility of the financing initiative. This partnership represents an expansion of the existing financing ecosystem that Vedanta has developed to support its customer base. Rajiv Kumar, Chief Executive Officer, Vedanta Aluminium, emphasised the strategic importance of the partnership in strengthening the aluminium value chain by improving working capital accessibility for MSMEs, which constitute the foundation of India's manufacturing and industrial sectors. He noted that over 60 percent of the company's downstream clientele comprises MSMEs, making this initiative particularly relevant for business expansion and competitiveness enhancement. Kumar highlighted that the programme aligns with the company's vision of developing a self-reliant and competitive aluminium industry that contributes to India's economic growth, employment generation, and global manufacturing capabilities. The initiative is positioned to unlock new opportunities for business development within the downstream aluminium sector. Vedanta Metal Bazaar currently features over 750 product variants, including ingots, billets, wire rods, primary foundry alloy, rolled products, and Restora, which is marketed as a low-carbon aluminium variant. The platform utilises artificial intelligence-based price discovery mechanisms and provides accessibility through both web and mobile applications. Vedanta Aluminium, operating as a division of Vedanta Limited, achieved production of 2.42 million tonnes of aluminium in the fiscal year 2025, representing more than half of India's total aluminium output. This production capacity positions the company as a dominant player in the domestic aluminium manufacturing sector. (KNN Bureau) 42402 https://knnindia.co.in/news/newsdetails/msme/vedanta-aluminium-partners-with-central-bank-of-india-for-msme-financing 2025-06-11 15:22:18 knnindia.co.in Vedanta Aluminium Partners With Central Bank Of India For MSME Financing