Message to MSE Vendors for Registration to TReDS/ RXIL Platform |
Dear Sir/ Ma'am,Trade Receivables Discounting System (TReDS) is a regulatory framework put in place by the Reserve Bank of India under the Payment and Settlement Systems Act 2007 (PSS Act) to facilitate the financing of trade receivables (invoices) of MSMEs through invoice financing by multiple financiers. The Reserve Bank of India has granted approval to the Receivables Exchange of India Ltd to set up and operate TReDS platforms. Receivables Exchange of India Ltd (RXIL), is a joint venture promoted by Small Industries Development Bank of India (SIDBI) . and National Stock Exchange of India Limited (NSE). The other shareholders include State Bank of India, ICICI Bank, Yes Bank, etc. Based on approval received from Reserve Bank of India, RXIL has launched India’s First TReDS Exchange on January 09, 2017. We are pleased to inform you BHEL has on-boarding on the RXIL TReDS Exchange as a buyer and propose to make payment to its MSME Vendors through the platform. In this regard, we look forward to you joining the RXIL Platform to avail the facility for payment receivables quicker, cheaper and easier through it. We have shared your contact details with the RXIL team who will contact you either directly to brief you about the concept and key benefits available to MSMEs as also handhold you through the registration process. Anurag Singh | Assistant Relationship Manager - Delhi |