Which among the following banks got in-principal approval form RBI for setting up of a Trade Receivables Discounting System (TReDS)?
Which among the following banks got in-principal approval form RBI for setting up of a Trade Receivables Discounting System (TReDS)?
[A]Kotak Mahindra bank
[B]ICICI Bank
[C]Axis Bank
[D]HDFC Bank
Axis Bank
Recently, the Reserve Bank of India (RBI) has granted in-principle nod to three entities including Axis Bank for setting up of a Trade Receivables Discounting System (TReDS). The TReDS is aimed at improving the flow of funds to the MSME sector by reducing receivables realisation cycles. The other two entities are Mynd Solutions Pvt. Ltd., Gurgaon, Haryana and NSE Strategic Investment Corporation and Small Industries Development Bank of India, Mumbai.
