Speaker

M1xchange TReDS is a digital marketplace to sell the receivables to banks/NBFC set up under the approval of Reserve Bank of India (RBI) to facilitate the discounting of invoices and bills of exchange on a PAN India basis. On November 24th, 2015, Reserve Bank of India (RBI) granted “in-principle” approval to three companies to set up Trade Receivable Discounting System (TReDS) platform. Mynd Solutions Pvt Ltd, is one amongst the three companies set up the TReDS platform ‘M1xchange’ on April 7th, 2017 under the Payment and Settlement System (PSS) Act 2007 to facilitate discounting of invoices and Bills of exchange for MSMEs on PAN India basis. M1xchange was launched on 7th April 2017 to service the finance needs of MSME across India. The exchange enables MSME to secure finances by converting their trade receivables into liquid funds, on without recourse basis. The exchange has hosted Nationalised, Private and Foreign banks to finance these receivables at most competitive rates with a unique model of bidding by the banks