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
India’s core sector industries clock 6.7% growth in Feb
India’s fiscal deficit in 11 months at 86.5 pc of full financial year target
FHRAI seeks relief for hospitality sector from DGFT’s secondary conditions
Smart TV prices set to rise despite anticipated increase in shipments: Report
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.