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FinancierTReDS portal now key for MSME financing
Despite being the major contributor to the industry, MSMEs face the challenge of financing their working capital at reasonable cost. To make liquidity available to MSMEs, RBI under the payment and settlement Act, 2007 facilitated the financing of their trade receivables online, through an automated portal called TReDS.
Canara Bank seeks bids for 70% stake sale in Canbank Factors
State-owned Canara Bank plans to sell its entire 70% stake in non-banking subsidiary Canbank Factors Ltd, according to a tender on the bank’s website.
Easing SME Finance : Mynd has Single-minded Devotion to SMEs Sector
Mynd has set up TReDS platform – M1xchange for MSME funding at an interest cost which is in parity with large corporate. In M1, MSME suppliers are provided finance against their receivables to large corporate by way of Factoring. Banks discount the invoice and make instant payment to MSME and collect the receivables from the large corporate as per the credit period.
Sunil Kumar, CTO – M1xchange features in Enterprise IT World magazine
Sunil Kumar, CTO – M1xchange features in Enterprise IT World magazine’s list of top 200 personalities who are driving change. Sunil was selected to be on the list because of his contribution in leading the development of M1xchange, Mynd’s TReDS platform for online invoice financing.
M1xchange is a Solution to Age Old Problem of Working Capital
We know that the SME entrepreneur when sells their goods and services to a large corporate. They often struggle to collect the money from the large corporate and that money is nothing but his working capital.
Mynd Solutions in scale-up mode
Mynd Solutions, which offers online discounting of trade receivables, expects total throughput of bills discounted through its platform this fiscal to touch ₹3,000 crore, Sundeep Mohindru, Founder & CEO, has said.
TReDS Help SMEs Get Credit from Corporates on Time
This is a bill discounting system which allows banks to make payments to vendors against supplies to corporates
M1xchange adds new features to improve Inflow of Working Capital For MSMEs
Mynd Solutions, one of India’s leading outsourcing and consulting company, has added new features to its M1xchange to provide better Inflow of Working Capital For Micro, Small and Medium Enterprises (MSMEs) in the light of Goods and Services Tax (GST) regime.
Will TReDS bring liquidity for MSME sector In India?
Micro Small and Medium Enterprises (MSMEs) have been a much-ignored sector in our country and it started to evolve considerably post the independence. It has progressed in scale and in the scope of business activities over the last couple of years.
RBI’s trade receivables system to help MSME sector
While the government is prodding the micro, small and medium enterprise (MSME) sector to drive the economy to its next phase of growth and job creation, the entire sector is grappling with challenges of getting their payments on time…