Bank of Maharashtra on Thursday went into an strategic partnership with fintech organization Vayana Network to offer channel financing support for MSMEs. Vayana is India's biggest inventory network financing stage offering financial help to MSMEs. Through this association, BoM has launched the Mahabank Channel Financing Scheme to give short-term credit to meet funding requirement of dealer and vendors of corporates.
A S Rajeev, MD and CEO of BoM, said they were offering a completely digital financing experience to MSME customer, providers and wholesalers of leading corporates. We have faith in the force of associations, and thus have tied up with leading fintechs to launch inventive digital contributions.
Ram Iyer, author and CEO, Vayana Network said, inventory network money or trade finance has become a basic vehicle for reasonable MSME loans. SCF has acquired footing in the post-COVID period as both corporates and their MSME supply chains targeting smoothing out their working capital cycles and liquidity.