Veefin's PSB Xchange onboards Bank of India as lending partner

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Price reactionminutes from the announcement price · days from the prior close

-1.5%Reaction day

₹322.50

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.2%-1.7% vs market

IT Enabled Services peers, median of 72sector-0.8%-0.7% vs sector

On the reaction day the stock moved 1.7 pts less than Nifty Microcap 250 and 0.7 pts less than its IT Enabled Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Veefin Solutions announced that Bank of India has joined PSB Xchange as a lending partner. PSB Xchange, developed by Veefin and run by PSB Alliance (backed by 12 public sector banks), is a digital platform for supply chain financing. Bank of India will offer supply chain finance to dealers and MSMEs linked to anchor corporates. This expands the lender network on PSB Xchange, enabling faster digital access to working capital for MSMEs across India.

Likely market impact

Strengthens Veefin PSB Xchange platform with a major public sector bank, expanding its lender network and MSME financing reach.