Receivables Exchange of India Ltd (RXIL) was set up on February 25, 2016 as a joint venture of Small Industries Development Bank of India (SIDBI) and National Stock Exchange of India Limited (NSE), with an objective to operate India’s First Trade Receivables Discounting System (TReDS) - an online platform for financing of receivables of Micro, Small & Medium Enterprises. RXIL commenced operations on January 09, 2017.

The TReDS Platform facilitates discounting of invoices/bills of exchange of MSME Sellers against large Corporates including Govt. Departments and PSUs, through an auction mechanism wherein many financiers bid for invoices. This ensures prompt realisation of trade receivables at competitive market rates and brings transparency.

Impact of RXIL:

  • TReDS has successfully executed financing of trade receivables of MSMEs and also successfully settled both financing and repayment legs through NPCI NACH Debit and Credit Settlement System as mandated by RBI.
  • As on March 28, 2018, 50 Buyers, 150 MSME Vendors and 26 Financiers were registered on the TReDS platform & 4206 invoices aggregating INR 20138 lakh have been factored. 13 PSUs have also executed the Master Agreement till date.
  • The 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.

For more details visit https://www.rxil.in