CURRENT AFFAIRS

Detailed explanation-1: -Ans. TReDS is an electronic platform for facilitating the financing / discounting of trade receivables of Micro, Small and Medium Enterprises (MSMEs) through multiple financiers. These receivables can be due from corporates and other buyers, including Government Departments and Public Sector Undertakings (PSUs).

Detailed explanation-2: -MSMEs can showcase their products online through e-commerce platforms, and the website lets people buy the goods. Therefore, e-commerce can help expand MSMEs’ markets and increase their growth potential.

Detailed explanation-3: -Background of the MSMED Act, 2006 The MSMED Act, 2006 specifies 45 day credit period for the recipient of any goods or services to pay to the MSME supplier. It is included to protect the interest of the MSME business.

Detailed explanation-4: -As businesses continue to trade online, more and more SMEs are using eCommerce as a sales and marketing tool. SMEs use eCommerce websites as a sales channel between business, its competitors, customers, and the world in general. The main objective of eCommerce websites is to market products and services.