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The Trade Receivables Discounting System (TReDS) platform M1xchange has signed a memorandum of understanding with the Ministry of MSME, whereby all MSMEs registered with the Government’s Udyam portal will be able to on-board the exchange.
“...MSMEs will benefit from a two-way exchange of information between Udyam portal and M1xchange. All Udyam registered MSMEs will be able to onboard on M1xchange conveniently, enabling them to leverage the full force of TReDS and access liquidity at the lowest possible cost,” said Amit Sachdev, COO, M1xchange
TReDS enables financing to MSMEs at competitive rates, to address the challenges of delayed payments to MSMEs, M1xchange said in a statement.
Invoices raised by MSMEs and accepted by corporate buyers are funded at competitive interest rates under a bidding method in which multiple financial institutions bid against the invoices. This helps businesses to pay off their MSME debts in time.
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