(MENAFN- KNN India)
New Delhi, Jan 11 (KNN)
KredX, a leading supply chain finance platform, announced on Thursday that it has received the Reserve bank of India's (RBI) final approval to commercially launch its Trade Receivables Discounting System (TReDS) platform, branded as DTX (Domestic Trade Exchange).
This makes KredX the fifth RBI-regulated TReDS platform in India, a move that promises to boost supply chain financing for the country's micro, small, and medium enterprises (MSMEs).
The TReDS initiative, a government-backed program, addresses the persistent issues of delayed payments and working capital shortages in the MSME sector.
By enabling electronic discounting of trade receivables, TReDS platforms promote transparency, ensure timely payments, and enhance liquidity-factors critical to the growth and sustainability of MSMEs.
KredX's DTX platform leverages advanced technology to provide a seamless, user-friendly experience tailored to MSMEs.
The launch is expected to drive compliance with recent mandates requiring companies with a turnover of Rs 250 crore or more to register with TReDS.
Additionally, it aims to accelerate the adoption of digital financial tools, fostering more sustainable and efficient supply chains across industries.
Manish Kumar, CEO and Co-founder of KredX, expressed confidence in DTX's transformative potential, stating, "With the government's focus on strengthening MSMEs, DTX is strategically positioned to bridge payment delays and provide the liquidity necessary for their growth."
The introduction of DTX also highlights the growing importance of digital platforms in resolving long-standing challenges in the MSME ecosystem.
With its RBI approval, KredX now joins a select group of platforms at the forefront of financial innovation in India, promising greater financial inclusion and economic resilience for small businesses.
This development is poised to not only empower MSMEs but also contribute to building a more robust and transparent financial infrastructure, ensuring that businesses of all sizes can thrive in an increasingly competitive market.
(KNN Bureau)
MENAFN11012025000155011030ID1109079445
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.