Key Development
PSB Alliance Pvt. Ltd. and Punjab National Bank (PNB) have signed an agreement for onboarding Punjab National Bank as a lending partner on the PSB Xchange platform, India's unified digital working capital finance platform.
Partnership Details
- Punjab National Bank, identified as the third-largest Public Sector Bank in India by overall business and a leading bank in Supply Chain Finance, will leverage the PSB Xchange platform
- PNB will offer digital supply chain finance solutions to eligible borrowers associated with participating anchor corporates
- The collaboration enables seamless digital onboarding, credit assessment and financing through a standardized process
- The platform aims to strengthen PNB's digital supply chain finance capabilities while accelerating access to institutional working capital for dealers, distributors and MSMEs
Platform Benefits
- PSB Xchange connects lenders, corporates and ecosystem partners through a unified technology platform
- Reduces the need for multiple point-to-point integrations
- Facilitates faster programme implementation, portfolio monitoring and operational efficiency
- Enhances availability of institutional finance across dealer and distribution ecosystems
- Enables corporates to benefit from a larger network of lending partners
Stakeholder Perspectives
Shri M Paramasivam, Executive Director, Punjab National Bank:
Committed to supporting India's businesses through innovative and technology-led banking solutions. The collaboration aligns with PNB's vision of expanding timely access to working capital for MSMEs while driving greater digital adoption across their financing ecosystem.
Ms. Anjali Mohanty, MD & CEO, PSB Alliance:
Described PNB's onboarding as an important milestone in expanding the network. Strengthens collective ability to deliver seamless, technology-driven working capital solutions that improve credit accessibility for businesses across the country.
Mr. Raja Debnath, Managing Director, Veefin Group:
Characterized PNB's onboarding as a significant milestone for the PSB Xchange ecosystem. Noted that PNB brings exceptional scale and deep domain expertise to the platform as the third-largest Public Sector Bank in India and one of the country's leading Supply Chain Finance lenders.
Future Outlook
The onboarding represents another significant step in expanding the PSB Xchange ecosystem and strengthening digital supply chain finance across India. The platform will continue to onboard leading financial institutions, corporates and ecosystem partners to improve access to institutional working capital finance and drive greater financial inclusion for businesses nationwide.
Company Backgrounds
Punjab National Bank: One of India's largest Public Sector Banks and the third-largest PSU bank by overall business. Strong presence across retail, corporate and MSME banking, and a leading provider of Supply Chain Finance solutions.
PSB Xchange: A unified, multi-lender digital working capital ecosystem powered by PSB Alliance and developed by Veefin. Connects banks, NBFCs, corporates, fintechs and MSMEs to enable digital execution of supply chain finance and working capital programmes.
PSB Alliance: A company promoted by 12 Public Sector Banks that delivers technology-driven, secure services to the banking sector.