RXIL First TReDS Platform to Pay Interim Dividend
Why in the news
Receivables Exchange of India Limited (RXIL) declared and paid a 21.6% interim dividend on face value, the first TReDS platform to return money to its stakeholders.
RXIL profile
| Item | Detail |
|---|---|
| Regulator | RBI |
| Approval and launch | December 2016; first deal 9 January 2017 |
| Backers | SIDBI, NSE, SBI, ICICI Bank, Yes Bank |
| Unique trait | Goa and Tamil Nadu governments take part |
About TReDS
- An electronic platform where MSME invoices on large buyers are discounted, giving early payment.
- Aims: better MSME liquidity, less collateral dependence, timely payment, formal MSME finance.