Only 143 of 348 Central PSUs enlisted on TReDS platforms for financing of MSME receivables
New Delhi, Jan 9 (KNN) In spite of continued efforts of Ministry of MSMEs for financing receivables of Micro Small & Medium Enterprises (MSMEs), only 143 out of 348 central Public Sector Undertaking (PSUs) have enlisted themselves on TReDS platforms, according to a data from SAMADHAN portal.
Reserve Bank of India (RBI) has licensed three agencies to set-up Trade Receivables Discounting System (TReDS) Platforms to facilitate the discounting of invoices for MSMEs from corporate buyers through multiple financiers.
MSMEs have long complained about delays in receiving payments against the supplies made to large buyers especially the PSUs.
TReDS platforms being electronic platform, dispense with paper work and are found to be very efficient. They also help induce a discipline among buyers as the entire payment trail becomes visible.
The record of large corporates whether public or private in joining TReDS has been patchy.
While close to 60 per cent of CPSUs have joined TReDS, very few State PSUs have joined the platforms.