Garden Reach Shipbuilders and Engineers becomes first Defence PSU to be activated on TReDS platform

The Garden Reach Shipbuilders and Engineers Ltd (GRSE) has become the first defence Public Sector Units (PSU) to be activated on the TReDS (Trade Receivable Discounting System) platform. The platform enables discounting of invoices of MSME sellers against large buyers through an auction mechanism, helping prompt realisation of trade receivables at competitive market rates and helps avoid the constraints in obtaining financing. The platform hosts 15 financers including Allahabad Bank, Bank of Baroda (BoB), Union Bank of India (UBI) and Vijaya Bank.