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MSME 45 Day Payment Rule: How MSMEs can Prevent Order Cancellations amidst $12 84 Billion Payment Backlog

MSME 45 Day Payment Rule: How MSMEs can Prevent Order Cancellations amidst $12 84 Billion Payment Backlog
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Nirav choksiMedium enterprises msmesWhile the centreMedium enterprisesDays sales outstandingSales invoice discounting

PSB Alliance appoints Veefin Solutions Ltd to deploy and operate Unified cloud-based Supply Chain Finance ecosystem

PSB Alliance appoints Veefin Solutions Ltd to deploy and operate Unified cloud-based Supply Chain Finance ecosystem
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Eric anklesariaRajinder mirakhurRaja debnathIndian bankPunjab national bankVeefin solutions ltdCentral bankPsb allianceCanara bankUnion bankPunjab sind bankIndian overseas bankVeefin solutionsSupply chain financeSector banksSupply chain financing

Public sector banks tie up with Veefin Solutions for cloud-based MSME lending platform

Public sector banks in India have partnered with technology firm Veefin Solutions Ltd to offer supply chain financing for micro, small and medium enterprises (MSMEs) on a cloud-based platform. The collaboration, facilitated by PSB Alliance, a group of public sector banks, aims to bridge the estimated Rs 20-25 trillion ($270-340 billion) credit gap for MSMEs. The platform will enable communication between lenders and offer various financing options.

Raja debnathEric anklesariaRajinder mirakhurCentral bankUnion bankCanara bankPunjab national bankIndian overseas bankPunjab sind bankVeefin solutions ltdIndian bankSind bankState bankSales invoice discountingPurchase invoice discountingReverse factoring