Veefin Solutions has played a key role in a significant milestone for India's banking sector. Central Bank of India (CBI) has successfully completed the first fully digital supply chain finance transaction on the PSB Xchange platform. This groundbreaking achievement showcases the potential of digital lending in India's financial landscape and highlights the growing collaboration between traditional banks and fintech companies.

A Leap in Digital Finance

The transaction, which involved a dealer finance deal with a leading footwear company, was processed entirely through the digital platform without any manual intervention. This end-to-end digital process demonstrates the operational capability of PSB Xchange to facilitate real-time credit flows across multiple institutions.

PSB Xchange: A Unified Platform

PSB Xchange, developed by PSB Alliance in partnership with Veefin Solutions, is a unified multi-lender platform that connects various financial institutions:

The platform aims to streamline supply chain financing and small business loans, offering a more transparent, efficient, and scalable alternative to traditional financing methods.

Transaction Flow

The milestone transaction followed a seamless digital journey:

1. A fintech partner connected to the platform originated the corporate lead.
2. The lead was passed to a participating lender (Central Bank of India).
3. CBI utilized the complete PSB Xchange technology stack for underwriting and processing.
4. A financing offer was extended digitally to the corporate anchor.
5. The corporate accepted the offer directly on the fintech interface.

Implications for India's Banking Sector

This successful transaction marks a significant step forward in India's digital lending landscape. It positions public sector banks to better serve businesses, especially in the MSME sector, by leveraging technology to streamline financial processes.

S.S Murthy, GM – MSME at Central Bank of India, commented on the achievement: "Central Bank of India is proud to be the first PSB on PSB Xchange to have successfully completed the inaugural transaction of Dealer Finance with a leading footwear player in the country. This milestone stands as a testament to our organization's commitment to drive supply chain finance and excellence in banking to create immense value."

Future Outlook

The success of this transaction validates the vision of building a single, interoperable digital rail where various stakeholders can transact seamlessly and securely. It represents a shift from concept to execution in the realm of digital credit delivery across institutions, potentially reshaping the future of supply chain finance in India.

As more financial institutions adopt such platforms, we can expect to see increased efficiency, transparency, and accessibility in the banking sector, particularly benefiting small and medium enterprises that often face challenges in accessing timely credit.

This development aligns with India's broader push towards digital financial inclusion and showcases the country's progress in adopting innovative fintech solutions to address longstanding challenges in the banking sector.

Veefin Solutions LIMITED, a company listed on the Bombay Stock Exchange (BSE: 543931), has announced the appointment of Mr. Amit Jain as an Additional Non-Executive Independent Director, effective October 15, 2025. This strategic move aims to enhance the company's corporate governance and bring valuable expertise to its board.

Key Appointment Details

Professional Background

Mr. Amit Jain brings a wealth of experience to Veefin Solutions:

• Chartered Accountant and member of the Institute of Chartered Accountants of India
• Over 30 years of extensive experience in finance management
• More than 20 years of experience specifically in the mutual fund industry

Appointment Process and Compliance

The appointment of Mr. Jain was made based on the recommendation of the Nomination and Remuneration Committee and approved by the Board of Directors. This decision aligns with the requirements of the Companies Act, 2013, and SEBI Listing Regulations.

Veefin Solutions has confirmed that Mr. Amit Jain has not been debarred from holding the office of Director by any order issued by SEBI or any other authorities, as required by stock exchange circulars.

Impact on Corporate Governance

The addition of Mr. Jain to the board is expected to:

• Foster transparency and accountability within the company
• Strengthen ethical business practices
• Enhance investor confidence
• Support long-term growth strategies

Board Meeting Details

The board meeting where this appointment was approved took place on October 15, 2025:

• Meeting commencement: 3:30 PM
• Meeting conclusion: 4:25 PM

This appointment represents a significant step for Veefin Solutions in strengthening its leadership team with experienced professionals. As the company moves forward, the expertise of Mr. Amit Jain in finance management and the mutual fund industry is likely to contribute to its strategic decision-making and corporate governance practices.