IndusInd Bank has partnered Asian Development Bank (ADB) to provide supply chain finance (SCF) solutions in India.

The private lender has entered into a partial guarantee programme with ADB with an initial outlay of Rs 560 crore ($70 million), exclusively towards supply chain financing.

Aimed to grow its presence in MSME financing, IndusInd Bank sees this partnership further strengthening various initiatives taken by it 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 digital portal for SCF – ‘earlyCredit’ enabling 24X7 seamless processing of SCF transactions for corporates, suppliers and dealers.

"At IndusInd Bank, 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/suppliers, thereby being a true partner in their growth trajectory," Amitabh Saraff, Head - Financial Services, SME Business & SCF, said.

“At IndusInd Bank, 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/suppliers, thereby being a true partner in their growth trajectory. Partnership with a global organisation like ADB strengthens our SCF platform, a leading provider in the country. This association will further open up opportunities for the bank to innovate and empower our clients with the best financing solutions," said Amitabh Saraff, head - Financial Services, SME Business & SCF.