BoI signs agreement with RXIL for discounting invoices of MSMEs
State-run Bank of India has entered into an agreement with the Receivables Exchange of India (RXIL) as a trade receivables […]
Sarabjit Kaur January 11, 2018
MORE IN News
20 energy firms create alliance for EV charging via UPI-like system in India
Fantasy sports revenue growing bigger thanks to IPL: Report
Nestle India stock price plunges amid ‘sugar in baby food’ row
Escalation of Iran-Israel conflict to impact inflation, oil price in India
Nestle giving sugar shock: Baby food in India packs high sugar level compared to global offerings
State-run Bank of India has entered into an agreement with the Receivables Exchange of India (RXIL) as a trade receivables discounting system (TReDS) partner for discounting invoices of micro, small and medium enterprises (MSMEs) on digital platform.(Also read: TReDS platform pulls in private firms to improve MSME’s finances)RXIL is a joint venture between Sidbi and NSE, set up to operate a TReDS platform for factoring of invoices of the MSMEs in compliance of guidelines issued by RBI.TReDS is a digital platform to help MSMEs to get their trade receivables financed at a competitive rates through an auction mechanism.