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First PSU to transact on TReDS
August 22 , 2018
2282 days
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- The Hindustan Aeronautics Limited (HAL) has become the first Public Sector Unit (PSU) to make a transaction on the “TReDS platform”.
- The transaction was financed by Bank of Baroda (BoB) and since stands settled.
- The TReDS platform is an online electronic institutional mechanism for facilitating the financing of trade receivables of Micro, Small and Medium Enterprises (MSME) through multiple financiers.
- The acronym ‘TReDS’ stands for Trade Receivables Discounting System.
- In October 2017, the central government mandated all major PSUs to join TReDS platform to facilitate payments to MSME vendors.
- RXIL (Receivables Exchange of India), which is India’s first TReDS platform, is promoted by the
- National Stock Exchange,
- Small Industries Development Bank of India,
- State Bank of India,
- ICICI Bank and Yes Bank.
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