Ketan Gaikwad informs that RXIL Global has signed a Master Agreement for sandbox testing with Export-Import Bank of India and 4 other financiers to finance exports receivables
TreDS is innovative digital platform where MSMEs can auction their trade receivables at competitive rates, through online bidding by financiers, and gain access to capital in less than 48 hours. The MSME industry is the growth engine of the Indian economy, accounting for 30% of the nation's GDP, 48% of the total exports, and 40% of the employment of India's total workforce. Ketan Gaikwad, MD & CEO at RXIL), advocates increased participation on the platform: "MSMEs and mandated buyers should get listed on the TReDS as it offers lower financing costs for MSMEs with average rate at 6.8% pa to the working capital cash credit rate of 12-15% pa when borrowing from the open market. Lowering costs not only helps MSMEs with more liquidity but also makes them competitive and in turn reduces procurement costs of their buyers."
EXPONENTIAL GROWTH
RXIL has grown at an exponential rate over the years, reaching significant milestones. RXIL TReDS platform is the first TReDS platform to achieve profitability and is maintaining the streak. Gaikwad quantifies the growth: "We have processed over 2.6 million invoices till date worth whopping ₹450 billion. The platform has boarded more than 1000 buyers and around 15,000 MSMEs on the platform. This growth showcases an increase in the number of MSMEs opting for TReDS, thus enabling the MSME sector with timely availability of financing against their invoices."
PRIVATE, GOVT PARTICIPATION
Denne historien er fra May 2023-utgaven av Banking Frontiers.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra May 2023-utgaven av Banking Frontiers.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Swedbank leverages data to the hilt
Sweden's Swedbank takes innovation to a different level by collaborating with other competing banks:
Digitization is for customer satisfaction, says Argenta Bank
Belgium's Argenta Bank has designed its digitization efforts to enhance customer experience:
Speed, Safety, Compliance
Brijesh Samantaray, Co-founder, Propelld shares the current trends in the education loans how the company is leveraging technology:
Unique methods in fraud perpetration
When we look at some of the very serious frauds that had taken place in the financial realm, it is evident that the perpetrators are somewhat ingenious:
NBFCs: Elevating Organizational IQ
What is more important than hiring smart people is raising organizational IQ. This topic was discussed in depth in a panel discussion at NBFC's Tomorrow conclave organized by Banking Frontiers. Edited excerpts:
Trustful Transformation
Transformation is no longer only about growth & efficiency. It involves aspects like compliance, security and explainability that are impacting NBFCs. These issues are explored in this panel at NBFC's Tomorrow:
CEO Panel: Connecting Traditional Wisdom with Modern Intelligence
Banking Frontiers organized its annual NBFC Conclave titled NBFC's Tomorrow in August 2024 at Mumbai. Highlights of the first panel discussion:
NBFCs EXPERIENTIAL EVOLUTION, TRUSTWORTHY TRANSFORMATION
Banking Frontiers organized NBFC's Tomorrow, its annual NBFC Conclave, in Mumbai on August 21. The program comprised panel discussions on 5 upcoming opportunities for the NBFC sector, along with presentations, fireside chats and a keynote address. Edited excerpts from the conclave:
Smart ATMs - an indication of a resurgence
Smart ATMs can be the future way of how one may be interacting with a bank and doing transactions:
Personalization scores with HNWI & YP
Ghulam Haidar Rasooli, Chief Financial Officer at Afghanistan based Ghazanfar Bank, reveals the impact of personalization and future roadmap: