“The onboarding process on the Trade Receivables Discounting System platforms shall be completed by 31st March, 2025,” the MSME Ministry said in a notification.
Finance Minister Nirmala Sitharaman in this year’s budget had announced reduced turnover criteria to Rs 250 crore from Rs 500 crore for buyers to get on TReDS.
Businesses with more than Rs 250 crore turnover, from earlier Rs 500 crore, and all central public sector enterprises (CPSEs) will now be required to onboard the invoice discounting platform TReDS by the Reserve Bank of India (RBI), the MSME Ministry notified on Thursday. According to the notification, the onboarding process on the TReDS platform, which includes RXIL, M1xchange, Invoicemart, and C2treds, is to be completed by the end of this financial year.
“The onboarding process on the Trade Receivables Discounting System platforms shall be completed by 31 March, 2025,” the notification said.