DBS Bank India Facilitates First RSPO-Certified Palm Oil Procurement for Louis Dreyfus Company India Pvt Ltd
By providing early payment options and improving financial stability for suppliers, DBS Bank’s SPS solution reduces the risk of disruptions, resulting in a more stable and resilient supply chain for clients. Furthermore, it promotes supplier inclusion, empowering the bank's clients to expand their supply chains and diversify their sourcing options.
The SPS solution enables the bank to make early payments on behalf of clients to their suppliers, allowing them to preserve liquidity and while reducing cash flow pressures on the suppliers. The solution is entirely digital and tailored to meet the client's specific needs.
The RSPO plays a crucial role in promoting sustainability within the palm oil industry and its supply chain by enforcing globally recognised standards.
Certified producers undergo regular audits to ensure adherence to these standards, demonstrating their dedication to responsible practices. This initiative aligns with the bank's broader efforts to enhance sustainable financing and offer solutions that empower its clients to further their sustainability goals.
Divyesh Dalal, Managing Director & Head of Global Transaction Services, SME and Institutional Liability Business, DBS Bank India, said, "This transaction represents a significant milestone, underscoring the crucial role of sustainable financing in catalysing positive change. Our innovative SPS solution not only provides scalable and sustainable financing solutions to our clients but also champions responsible sourcing practices and facilitates optimised working capital management. By combining financial innovation with a strong commitment to sustainability, we are empowering businesses to make a lasting impact on the environment and society."
DBS Bank
