TReDS bill financing crosses Rs 2-lakh crore mark
TReDS (Trade Receivables Electronic Discounting System) has seen significant growth in 2024, with the bills financed crossing ₹2 lakh crore, pointing to the benefits for small businesses for whom the working capital cycle is shortened by the platform.
Reserve Bank of India (RBI) data showed that at the end of October, the platform financed nearly 100,000 bills, with a combined value of ₹2.08 lakh crore.
According to the data, more than 100,000 MSME sellers are registered on the four licensed TReDS platforms of Invoicemart, run by Axis Bank, M1xchange, Sidbi-promoted Receivables Exchange of India (RXIL), and C2FO Factoring Solutions, a global working capital provider.
Total buyers on the platform including corporates, government departments, PSUs were nearing the 6,000 mark.
TReDS is an initiative introduced by the RBI and backed by the MSME Ministry. It serves as an electronic platform facilitating the financing and discounting of trade receivables of MSMEs through multiple financiers in order to solve their working capital-related challenges.
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