<p>Receivables Exchange of India Ltd (RXIL), leading invoice discounting platform for MSMEs, on Tuesday said it has crossed monthly transaction volumes of Rs 1,000 crore in the month of March.</p>.<p>The growth of transaction volumes from Rs 69 crore in April 2020, to Rs 1,105 crore in March 2021 indicates the revival and resumption of the economic activity, RXIL said in a statement.</p>.<p>RXIL has processed close to 5 lakh invoices drawn on over 600 buyers to date from inception in 2017. It has the largest number of financiers on board which enables financing to over 7,000 MSMEs (Micro, Small & Medium Enterprises) registered on the platform.</p>.<p>In 2020-21, RXIL has also emerged as the leading platform with more than Rs 6,500 crore of throughput.</p>.<p>“MSMEs play a vital role in a developing economy like ours. To achieve the goal of a USD 5 trillion economy, MSMEs must have access to formal sources of low-cost working capital finance. TReDS enables MSMEs to secure finance on the strength of their buyer's credit rating without having to negotiate with financiers," Vikram Limaye, Managing Director and Chief Executive Officer of NSE said.</p>.<p>According to him, TReDS (Trade Receivables Discounting System) plays a critical role in ensuring seamless liquidity to MSMEs and can play a part in filling up the credit gap.</p>.<p>RXIL is an RBI accredited TReDS platform that facilitates financing and discounting of trade receivables of MSMEs through several financiers.</p>.<p>Launched in 2016, RXIL, a joint venture between the Small Industries Development Bank of India (SIDBI) and the National Stock Exchange of India Limited (NSE) with State Bank, ICICI and Yes Bank as other stakeholders.</p>.<p>The government with the support of RBI, Ministry of Finance and Ministry of MSME has been promoting TReDS as an effective tool to address the working capital woes of MSMEs.</p>.<p>With timely interventions in the form of Gazette notifications, circulars, and awareness campaigns, TReDS has been able to help the MSMEs to tide over the liquidity crisis, RXIL said. </p>
<p>Receivables Exchange of India Ltd (RXIL), leading invoice discounting platform for MSMEs, on Tuesday said it has crossed monthly transaction volumes of Rs 1,000 crore in the month of March.</p>.<p>The growth of transaction volumes from Rs 69 crore in April 2020, to Rs 1,105 crore in March 2021 indicates the revival and resumption of the economic activity, RXIL said in a statement.</p>.<p>RXIL has processed close to 5 lakh invoices drawn on over 600 buyers to date from inception in 2017. It has the largest number of financiers on board which enables financing to over 7,000 MSMEs (Micro, Small & Medium Enterprises) registered on the platform.</p>.<p>In 2020-21, RXIL has also emerged as the leading platform with more than Rs 6,500 crore of throughput.</p>.<p>“MSMEs play a vital role in a developing economy like ours. To achieve the goal of a USD 5 trillion economy, MSMEs must have access to formal sources of low-cost working capital finance. TReDS enables MSMEs to secure finance on the strength of their buyer's credit rating without having to negotiate with financiers," Vikram Limaye, Managing Director and Chief Executive Officer of NSE said.</p>.<p>According to him, TReDS (Trade Receivables Discounting System) plays a critical role in ensuring seamless liquidity to MSMEs and can play a part in filling up the credit gap.</p>.<p>RXIL is an RBI accredited TReDS platform that facilitates financing and discounting of trade receivables of MSMEs through several financiers.</p>.<p>Launched in 2016, RXIL, a joint venture between the Small Industries Development Bank of India (SIDBI) and the National Stock Exchange of India Limited (NSE) with State Bank, ICICI and Yes Bank as other stakeholders.</p>.<p>The government with the support of RBI, Ministry of Finance and Ministry of MSME has been promoting TReDS as an effective tool to address the working capital woes of MSMEs.</p>.<p>With timely interventions in the form of Gazette notifications, circulars, and awareness campaigns, TReDS has been able to help the MSMEs to tide over the liquidity crisis, RXIL said. </p>