CURRENT AFFAIRS

2023

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which of the following bank has partnered with M1Xchange Trade Receivables Discounting System (TReDS) platform for MSME bill discounting?

A	Deutsche Bank
B	ICICI Bank
C	Axis Bank
D	ING Vysya Bank
E	Bank of Maharashtra

Explanation:

Detailed explanation-1: -Bank of Maharashtra (BoM) partnered with M1Xchange Trade Receivables Discounting System (TReDS) platform for MSME bill discounting.

Detailed explanation-2: -Small Industries Development Bank of India (SIDBI), the principal financial institution engaged in the promotion, financing, and development of Micro, Small, and Medium Enterprises (MSME) has partnered with M1xchange as the financier. This move is expected to bring liquidity to MSMEs at competitive interest rates.

Detailed explanation-3: -Ans:M1xchange (M-ONE) stands for Mynd Online National Exchange for Trade Receivables. M1’s Trade Receivables Discounting System “TReDS” is an online exchange being set up under the approval of Reserve Bank of India (RBI) to facilitate discounting of invoices on a PAN India basis.

There is 1 question to complete.