Turnover threshold reduced for TReDS M1xchange
22/08/2024 Financial & Legal Services
Price: Check with seller
Description
The Indian Union Budget 2024 has brought significant changes for Micro, Small, and Medium enterprises (MSMEs), focussing on increasing their financial accessibility and operational flexibility. One of the key reforms is the reduction in the turnover threshold for mandatory onboarding on the Trade Receivables Discounting System (TReDS) platform. This change lowers the requirement from ₹500 crore to ₹250 crore, allowing more businesses to participate in this digital invoice discounting system.
The TReDS platform plays a crucial role for MSMEs as it facilitates easier access to working capital by enabling businesses to convert their trade receivables into cash without needing collateral.
To know more visit: https://www.m1xchange.com/thought-xchange/turnover-threshold-reduced-for-treds/
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