Receivables Exchange of India Ltd (RXIL)
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). RXIL has been incorporated under the Companies Act, 2013 on February 25, 2016. RXIL will operate the Trade Receivables Discounting System (TReDS) Platform as per the TReDS guideline issued by RBI on December 3, 2014.
TReDS is an online electronic institutional mechanism for facilitating the financing of trade receivables of MSMEs through multiple financiers. The TReDS Platform will enable discounting of invoices/bills of exchange of MSME Sellers against large Corporates including Govt. Departments and PSUs, through an auction mechanism, to ensure prompt realisation of trade receivables at competitive market rates.
TReDS Platform of RXIL is expected to be a catalyst in the growth of MSMEs by bringing in transparency in the business eco-system and addressing the issue of delayed payments for MSMEs.