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HAL becomes first PSU to transact on TReDS Platform

State-owned aerospace and defence manufacturer Hindustan Aeronautics Limited (HAL) became the first public sector enterprise (PSU) to make transaction on RXIL TReDS platform.
HAL becomes first PSU to transact on TReDS Platform
  • It executed its first digitised invoice discounting transaction on RXIL TReDS platform by accepting digital invoice uploaded by Nasik-based MSME (micro category) vendor Narendra Udyog.
  • This transaction was financed by Bank of Baroda.

About the RXIL- TReDS platform:

  • TReDS is an online electronic institutional mechanism for facilitating the financing of trade receivables of micro, small and medium enterprises (MSME) through multiple financiers.
  • RXIL is India’s first TReDS platform operating since January 2017.
  • It promoted by the National Stock Exchange (NSE), Small Industries Development Bank of India (SIDBI), State Bank of India (SBI), ICICI Bank and Yes Bank.
  • It enables MSMEs to gain control of their receivables with enhanced visibility and timeliness.
  • In October 2017, Union Government had mandated all major PSUs to join TReDS platform to facilitate payments to MSME (micro, small and medium enterprises) vendors.

Questions:

Q1. Who became the first public sector enterprise (PSU) to make transaction on RXIL TReDS platform?
a. Hindustan Aeronautics Limited
b. Hindustan Zinc Limited
c. Hindustan Petroleum Corporation Limited
d. None of the above

Q2. Who financed the transaction?
a. Bank of India
b. Bank of Baroda
c. Bank of Maharashtra
d. None of the above
HAL becomes first PSU to transact on TReDS Platform HAL becomes first PSU to transact on TReDS Platform Reviewed by Inderjeet Virdi on August 23, 2018 Rating: 5

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