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Lok Sabha passes Factoring Regulation (Amendment) Bill 2020 - The Hindu BusinessLine
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Vayana Network to scale up its overseas supply chain finance business
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SCF platform Vayana to expand MSME services
Vayana Network, a supply chain finance (SCF) platform, said after enabling over $6 billion (₹45,000 crore) in trade finance for 300 supply chains, it would expand its services for Indian MSMEs to grow their global trade.
“With over 48% share in exports, MSMEs in India have truly embraced global trade over the past couple of decades. India will get further embedded in global supply chains and grow its share in trade in the coming years,” said Ram Iyer, founder and CEO.
“At the same time, businesses are suffering from working capital challenges due to delayed export receivables and advanced payments on their imports. This is an over-$100 billion financing gap today, which cannot be solved through traditional trade finance solutions like Letter of Credit (LC) & guarantees,” he said.
Synopsis
GBS can be accessed by businesses on the Vayana Network platform where all merchant data is secured and confidential. It also serves as a point of reference for large corporates and financial institutions or lenders.
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The platform is open for all businesses and different parameters and benchmarks have been set based on the sizes of the companies.
Supply chain financing platform Vayana Network, in partnership with CRIF Solutions, on Monday introduced the Good Business Score (GBS), a tech based tool to help India’s MSMEs measure and manage their business health effectively. GBS is aimed to help MSMEs signal their worth to prospective business partners, stand apart from competition, and improve by understanding their own strengths and weaknesses. The score will also serve as a criterion for large corporates and lenders associating with MSME businesses.
Vayana Network, CRIF India partner to launch tech-enabled tool for MSMEs
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