Mumbai: Dena Bank has started discounting invoices of MSMEs on TReDS platform from 05.02.2018.
Earlier, Dena Bank was registered with RXIL (Receivable Exchange of India Ltd) as a TReDS (Trade Receivable Discounting System) partner for discounting invoice of MSMEs on digital platform.
On October 24, 2017, Hon’ble Finance Minister, Govt. of India, has mandated all major PSUs to get registered on TReDS platform to shorten cash cycles of MSMEs.
TReDS allows MSMEs to post their receivables on the system and get them financed at competitive rates as per online bidding process. This will not only give them greater access to finance but will also put greater discipline on corporate to pay their dues on time.
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