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State Bank of India has joined digital invoice discounting marketplace Invoicemart as a financier. Invoicemart is a Trade Receivable Discounting System (TReDS) platform of A TREDS Ltd, a joint venture between Axis Bank and mjunction services Ltd. Narayanan Sadanandan, Chief General Manager, SME and Supply Chain Finance, SBI, said: “We have taken several steps to ensure timely delivery of credit to MSMEs through other initiatives, and this association is another step towards the process of digitisation.” TReDS is a scheme for operating the institutional mechanism for facilitating the financing of trade receivables of MSMEs from corporate buyers through multiple financiers.
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