CURRENT AFFAIRS

Detailed explanation-1: -RXIL becomes first TReDS platform to cross monthly throughput of Rs 1, 000 cr. The government with the support of RBI, Ministry of Finance and Ministry of MSME has been promoting TReDS as an effective tool to address the working capital woes of MSMEs.

Detailed explanation-2: -C2FO, India’s largest Early Pay platform, hosts over 50, 000 MSME suppliers and enterprises on its platform.

Detailed explanation-3: -Credit and finance for MSMEs: The invoice volume uploaded on TReDS jumped from 8.61 lakh invoices involving Rs 19, 669.84 crore in FY21 to 17.33 lakh involving Rs 44, 111.80 crore uploaded in FY22.

Detailed explanation-4: -With this approval, C2FO becomes only the 4th platform to get the license. Currently, there are three operating TReDS platforms in India, namely Invoicemart, M1xchange and RXIL.

Detailed explanation-5: -TReDS is a platform that facilitates the financing / discounting of Micro, Small, and Medium Enterprises (MSMEs) trade receivables through multiple financiers. These receivables may be owed by corporates as well as other buyers, such as government departments and public sector undertakings (PSUs).