DBS Bank forwards insurance-backed invoce discounting in India
DBS Bank India Limited has announced that it provided a bespoke Credit Insurance - Accounts Receivable solution to Tata Metaliks, a pioneer in manufacturing pig iron and DI pipes in India, in collaboration with HDFC ERGO General Insurance Co Ltd and reinsured by Atradius, a worldwide provider of trade credit insurance.
This credit insurance deal is amongst the first to leverage Trade Credit Insurance. The revised framework was rolled out by the Insurance Regulatory & Development Authority of India (IRDAI) in November 2021, allowing banks to participate in this proposition.
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Posted on Oct 3, 2022 Region: India
invoice discounting receivables finance, receivables discounting, trade credit insurance, DBS Bank, Tata Metaliks, HDFC ERGO, Atradius, Sanjay Kaw, Divyesh Dalal, Karishma Suvarna Gadia
