Question
Which of the following working capital platform has got
an in-principle approval from the Reserve Bank of India to set up and operate Trade Receivable Discounting Systems (TReDS) platform in India?Solution
C2FO, a global on-demand working capital platform, announced that its India arm C2FO Factoring Solutions Private Limited has got an in-principle approval from the Reserve Bank of India to set up and operate Trade Receivable Discounting Systems (TReDS) platform in India. With this, C2FO has become the fourth platform to get the license to operate TReDS after Receivables Exchange of India Ltd (RXIL), M1Xchange and Invoicemart. The company is planning to leverage its network and understanding of the 50,000 MSME suppliers and big corporations in the country as it builds the TReDS platform. Besides that, C2FO will also bring newer technology solutions to India to address the working capital needs of businesses.
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