TReDS platform RXIL crosses ₹1 lakh crore in MSME invoice financing

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The Trade Receivables Discounting System (TReDS) platform, the Receivables Exchange of India Ltd (RXIL), has financed over 50 lakh invoices totaling ₹1 lakh crore.

The joint venture between SIDBI, NSE, State Bank of India, ICICI Bank, and YES Bank, provides working capital solutions for MSMEs by facilitating invoice financing on the platform.

In FY24, RXIL saw monthly invoice financing volumes grow to over ₹6,000 crore. The platform is now targetting financing for ₹75,000 crore worth of invoices in FY25, it said in a release.

RXIL has more than 25,000 registered MSMEs. It has forged strategic partnerships with many state governments, ensuring MSMEs get timely payments at competitive rates. It also provides the advantage of timely working capital and risk-free financing against invoices to corporate buyers, CPSEs, PSUs, and more.

Currently, only 82,000 of 4 crore MSMEs registered on the Udyam portal have partnered with all the TReDS platforms, and the credit gap in the sector is estimated to be around $380 billion. The MSME sector contributes over 30 per cent of the country’s GDP and employs approximately 11 crore people.