NE BUSINESS BUREAU
CHENNAI, MAY 12
Public sector banking major Indian Bank on Wednesday rolled out Supply Chain Finance (SCF) facility on digital platform. Supply Chain Finance (SCF) facility will provide short-term working capital finance to Vendors/Dealers of Corporate.
It was launched by Indian Bank MD & CEO SL Jain.
- Lending through SCF platform will facilitate seamless transaction flow based on the documents on pre-agreed terms with buyers, sellers and Bank being on the same platform: SL Jain, MD & CEO
“Lending through SCF platform will facilitate seamless transaction flow based on the documents on pre-agreed terms with buyers, sellers and Bank being on the same platform. Dealers and suppliers of the large Corporates, mostly from MSME segment are expected to benefit from this digital lending platform as it will provide them easy access to working capital finance at favourable terms and pricing, boosting their business growth,” SL Jain said.
Bank also launched several other digital journeys along with SCF platform. Digital Journeys through Branches such as paperless digital SB account opening, Overdraft against Aditya Birla Sun Life Insurance up to Rs 10.00 Lakhs, Jewel Loan ETB – Branch Assisted and ODAD facility to MSME customers were launched on Wednesday.
The Bank further enabled customers to avail PAPL (Pre-Approved Personal Loan) with Digital Document Execution up to Rs 5.00 Lakhs, Credit Card facility upto a limit of Rs 10.0 Lakh through IndOASIS, Website and Internet Banking.
TAB Banking services are further enhanced with Cheque Book Request, Term Deposit Account Opening, Form 15G/H Submission, Nomination Facility and Enrolment of Jan Suraksha Schemes. Bank also launched a portal to facilitate submission and processing of death claims.
Executive Directors of the Bank Imran Amin Siddiqui, Ashwani Kumar, Mahesh Kumar Bajaj and Ashutosh Choudhury and other senior officials were present at the event.
