Business

Bank of Maharashtra, Vanaya Network tie up for channel financing

BoMA S Rajeev, MD & CEO of BoM, stated they had been providing a totally digital financing expertise to MSME clients, suppliers and distributors of main corporates.

Bank of Maharashtra on Thursday entered right into a strategic partnership with fintech firm Vayana Network to supply channel financing service for MSMEs. Vayana is India’s largest provide chain financing platform providing monetary assist to MSMEs. Through this partnership, BoM has launched the Mahabank Channel Financing Scheme to offer short-term credit score to fulfill funding requirement of sellers and distributors of corporates.

A S Rajeev, MD & CEO of BoM, stated they had been providing a totally digital financing expertise to MSME clients, suppliers and distributors of main corporates. “We believe in the power of partnerships, and hence have tied up with leading fintechs to launch innovative digital offerings.” Ram Iyer, founder and CEO, Vayana Network stated, provide chain finance or commerce finance has turn into a essential car for inexpensive MSME loans. SCF has gained extra traction within the post-COVID period as each corporates and their MSME provide chains aiming at streamlining their working capital cycles and liquidity.

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