IndusInd Bank announced partnership with Asian Development Bank (ADB) to support and promote supply chain finance (SCF) solutions in India. The bank has entered into a partial guarantee programme with ADB with an initial outlay of USD 70 million ( ₹560.0 crore), exclusively towards promoting SCF solutions in India.
IndusInd Bank aims to grow its presence in MSME financing and this partnership will further strengthen various initiatives of the bank in this domain. With SCF being a focus area, the bank has initiated a host of strategic efforts including the launch of new product structures for SCF. The Bank recently launched a state-of-the-art digital portal for SCF – ‘earlyCredit’ enabling 24X7 seamless processing of SCF transactions for corporates, suppliers & dealers.