2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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PNB
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SBI
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RBI
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BOB
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Detailed explanation-1: -The Reserve Bank of India on Wednesday decided to expand the scope of the Trade Receivable Discounting System or the TReDS platform allowing the use of insurance facilities.
Detailed explanation-2: -TReDS is a payment system authorised under the Payment and Settlement Systems (PSS) Act, 2007. It is a platform for uploading, accepting, discounting, trading and settling invoices / bills of MSMEs and facilitating both receivables as well as payables factoring (reverse factoring).
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: -Mastercard | Msme : Mastercard partners with M1xchange for digital invoice discounting solution for FPOs, MSMEs.