Receivables Exchange of India Limited (RXIL)

Receivables Exchange of India Ltd (RXIL) is a Joint Venture(JV) between the National Stock Exchange of India Limited (NSE)and the Small Industries Development Bank of India (SIDBI)^[1]^[2]

History

MSMEs in India face various hurdles in converting their trade receivables into liquid funds.

In 2015, RBI approved SIDBI and NSICL for setting up and operating TReDS in adherence to the guidelines under the Payment and Settlement System Act, 2007. Receivables Exchange of India Ltd (RXIL) was incorporated in 2016 as a joint venture between the National Stock Exchange of India Limited (NSE)and the Small Industries Development Bank of India (SIDBI), the apex financial institution for promotion and financing of MSMEs in India along with ICICI Bank, Yes Bank, and State Bank as other stakeholders.

Functioning

Receivables Exchange of India Ltd (RXIL) is an RBI accredited Trade Receivables Discounting System(TReDS) platform that enables financing and discounting of trade receivables of MSMEs through several financiers.

It is an electronic platform that enables the financing and discounting of trade receivables of MSMEs from corporate and other buyers, including Government departments and Public Sector Undertakings (PSUs), through several financiers.

Financials

Receivables Exchange of India Ltd (RXIL), said it recorded the highest monthly transaction volume of more than ₹1,000 crore in March in terms of discounting invoices of micro, small and medium enterprises (MSMEs). ^[3]

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Instructions · ⋈ · Receivables Exchange of India Limited (RXIL) (talk: + bio) · (log) · Copyvios report · reFill · Citation Bot · (Search: Google, Bing, Wikipedia) · Submitted 3 years ago by Hexatron93 (talk: H D +) · Last edited 3 years ago by Hexatron93

Warning: This page should probably be located at Draft:Receivables Exchange of India Limited (RXIL) (move).

Warning: The page Receivables Exchange of India Limited (RXIL) already exists. Please ensure it is not a copy or that this page is located to the correct title.

[1] ttps://www.jagranjosh.com/current-affairs/rxil-becomes-first-treds-platform-to-cross-rs-1000-monthly-throughput-what-is-rxil-explained-1617782756-1

[2] ttps://yourstory.com/smbstory/msme-small-business-invoice-discounting-treds-rxil

[3] ttps://www.thehindubusinessline.com/money-and-banking/at-1000-cr-rxil-records-highest-monthly-transaction-volume-in-march/article34253130.ece

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