The platform, meant to revolutionize credit for small and medium-sized businesses, has failed to take off.
On 7 September, the chairmen and managing directors of more than 200 public sector companies received a stern notice from the finance ministry’s Department of Public Enterprises, according to an industry executive who asked not to be named.
“The position regarding usage of TReDS has been recently reviewed and it has been observed that your company has been largely inactive on the TReDS platform… You are therefore requested to ensure active participation of your company on TReDS platform on a regular basis and send a compliance report by 30th September,” the notice read.
TReDS, short for Trade Receivables Discounting System, …
Ashwin covered fintech and banking at The Morning Context. Previously, he was at The Economic Times, where he worked across the finance, tech and startup verticals, breaking stories related to India’s banking system, startups in the new economy, digital payments, insurance and cryptocurrencies.
Writer
ashwin@mailtmc.com
Delhi