Axis Bank Ltd.

Axis Bank, Small Industries Development Bank of India (SIDBI), NSE Strategic Investment Corporation (NSIC) and NSDL Database Management (NDML) are reportedly among the applicants wanting to set up Trade Receivables Discounting System (TReDS).

In December last year, the RBI issued norms to set up of an exchange-based trading platform Trade Receivables Discounting System (TReDS) to facilitate financing of bills raised by micro, small and medium enterprises (MSMEs) to corporate and other buyers, including government departments and PSUs by way of discounting.

It would discount invoices so that final payment of the bill to the MSME is made by buyer on a due date. MSME sellers, corporate and other buyers, including the government departments and PSUs, and financiers (both banks and NBFCs) will be direct participants in the TReDS.

Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.