BANKING GENERAL KNOWLEDGE
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Question
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Receivable Experience of India Limited
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Reserve Exchange of India Limited
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Receivable Exchange of India Limited
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Reserve Exchange of India Location
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Detailed explanation-1: -RXIL, a joint venture between National Stock Exchange of India Limited (NSE) and Small Industries Development Bank of India (SIDBI) has been authorised by Reserve Bank of India (RBI) to operate the TReDS platform.
Detailed explanation-2: -Who we are? Receivables Exchange of India Ltd (RXIL), is a joint venture promoted by Small Industries Development Bank of India (SIDBI), the apex financial institution for promotion.
Detailed explanation-3: -Trade Receivables Discounting System (TReDS) is a digital platform for MSMEs to auction their trade receivables at competitive rates through online bidding by Financiers i.e Banks. It is a source for lower cost of financing as financing is based on buyer’s credit profile.
Detailed explanation-4: -For Buyers & Financiers: Collecting self-attested KYC documents (Proof of Identity) & (Proof of Address) of all individuals mentioned in the form. Submission of scanned copies of the above documents on email to RXIL executive. Providing NACH Auto Debit Mandate of the Designated Account.