About RXIL

India’s first TReDS exchange platform, Receivables Exchange of India Limited (RXIL) is a joint venture promoted by SIDBI – the apex financial institution for the promotion and financing of MSMEs in India, and the NSE – the premier stock exchange in India. Established on December 3, 2016, RXIL facilitates financial growth in the country by providing MSMEs the access to credit. It has endeavoured to revamp the cash flow issue of the MSME sector by streamlining their credit cycle by helping them receive their payments with zero delays. RXIL also empowers small businesses to their growth potential by accelerating liquidation of their receivables. It offers an innovative platform for buyers, sellers, and financiers to collaborate seamlessly.

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44000+

MSMEs

2600+

Buyers

75+

Financiers

WHAT DEFINES US?

The Essence Behind The Business

RXIL is the first entity to receive the approval from RBI to launch India's very first TReDS Exchange Platform
RXIL has a legacy of empowering MSMEs and bolstering their growth
RXIL’s innovative digital platform facilitates corporate buyers with a single seamless interface for their MSME suppliers to access capital at competitive rates in less than 24 hours

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WHAT IS THE RXIL TReDS JOURNEY?

The Milestones We Accomplished So Far

December 2016

Received approval from RBI for SIDBI-NSE Joint Venture – RXIL

January 2017

Executed India’s first TReDS transaction

March 2020

Introduced digital onboarding platform for MSMEs

September 2021

Crossed milestone throughput ₹ 1,000 crores monthly

January 2022

₹ 20,000 crores of transaction since inception
10,000 MSMEs onboarded

March 2022

1st TReDS platform to start filing charge with CERSAI
Achieved 2X the throughput ₹ 13,400+ crores from ₹ 6,500 crores
Crossed monthly milestone ₹ 2000 crores+ throughput

May 2022

‘Best TReDS Platform award’ at the Banking Frontiers Finnoviti Awards 2022

Sep 2022

Financial Express FuTech awards -‘Best Use of Digital or Hybrid Event Tech’
Gold -‘Product Innovation of the Year’ by Global SME Finance Awards 2022, organized by IFC & SME Finance Forum

January – feb 2023

RXIL was invited for G20 Global Partnership for Financial Inclusion (GPFI) under the Finance Track in Kolkata
Participated in the First G20 FCBD and second FMCBG Meeting in Bengaluru, to demonstrate the operational aspects of TReDS.

March 2023

Crossed monthly milestone of Rs.3,300 + throughput.
RXIL TReDS platform Crossed 25,000 + Cr cumulative throughput in a year.

WHAT IS OUR PHILOSOPHY?

The Principles That Guide Us

Vision

To be an integrated provider of financing platform par excellence, benchmarked with global best for supporting the growth and development of MSMEs for their inclusive & sustainable economic and social development.

Mission

To be a numero uno provider of trade receivable financing platform and act as a catalyst to achieve the entrepreneurial growth, economic success, and financial stability for/of the MSMEs

I CARE

Innovation

We challenge the status quo, we push boundaries, we seek creative ways to solve problems.

Collaboration

We build, support, and encourage collaborations across teams - we believe in the power of working together.

Accountability

We behave ethically, act openly, and with integrity in all that we do - taking responsibility for all our actions.

Respect

We respect and value those we work with and the contribution they make.

Excellence

We strive to achieve excellence in all that we do.

The financial institutions supporting us

Small Industries Development Bank of India (SIDBI) was established under an Act of Parliament in 1990. SIDBI serves as the Principal Financial Institution for executing the triple agenda of promotion, financing, and development of the Micro, Small and Medium Enterprise (MSME) sector and coordination of the functions of the various Institutions engaged in similar activities.

NSE Investments Limited is a wholly-owned subsidiary of National Stock Exchange of India Limited (NSE). NSE is the leading stock exchange in India and the third-largest in the world by the number of equity trades in 2017. NSE offers comprehensive coverage of the Indian capital markets across asset classes, including equity, fixed income, and derivative securities.

State Bank of India (SBI), incorporated in 1955, is the largest state-owned banking and financial services company in India. Beyond just offering banking services, SBI, through its subsidiaries, provides a range of financial services, which include life insurance, merchant banking, mutual funds, credit card, factoring, security trading, pension fund management, and primary dealership.

ICICI Bank is a leading private sector bank in India and a wholly-owned subsidiary of ICICI Limited, initially promoted in 1994. With a network of 5,275 branches and 15,589 ATMs across India, ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers.

Yes Bank incorporated in 2004 is a full-service commercial bank offering a complete range of products, services, and technology-driven digital offerings, catering to corporate, MSME, and retail customers. Headquartered in Mumbai, the bank has its footprints spread out across all 28 States and 9 Union Territories in India.

WHO ARE THE RXIL BOARD OF DIRECTORS

The Experts Who Lead Our Financial Exchange

Mr. Manoj Mittal

Chairman

Mr. Sudatta Mandal

Director

Ms. Namita Sekhon

Independent Director

Dr. Harish Ahuja

Director

Dr Harish Ahuja is the Head, Product & Strategy Development (Power & Carbon Markets),Primary Market relationship and Investor awareness/services at National Stock Exchange ( NSE) Harish is responsible for the NSE’s Listing Business development and growth of Carbon & power market products portfolio. In his more than two-decade long career, Harish has efficiently managed and renovated his professional semblance, from being a civil servant to an entrepreneur. He has served as a civil servant for 15 years and has held a host of senior administrative positions with the Government of India, not only the in-capital state, but also in states as far as the Andaman and Nicobar Islands. Prior to realizing and exploring his corporate journey, Dr Harish Ahuja, Civil Servant (UT Civil Services, 1997 batch) was posted as Joint Secretary, Department of Power, Government of Delhi. He was also the Director (Finance & Law) in Joint Electricity Regulatory Commission for Union Territories & State of Goa, Ministry of Power, Govt. of India. He had also worked as President, Strategy & corporate affairs with Hindustan Power Projects (IPP backed by Blackstone private equity) for 5 years steering the company’s growth matrix, under his able leadership. He has also worked as President, Strategy & Policy for Waaree Solar. He had been a member of Risk Management Committee of Power exchange of India limited (PXIL) for almost 7 years between 2010 till 2017, His has keen interest in the space of electricity derivative and of firm opinion that electricity spot market design is incomplete without a suitable hedge mechanism in place i.e a well- functioning, liquid and transparent electricity derivatives markets. Harish holds a PhD in Electricity Markets from IIT Delhi and a MBA in Energy Management from NTU Singapore and Bi, Oslo. He also holds a BE in Mechanical Engineering from NIT Raipur and M-Tech in Industrial Tribology & Machine design from IIT Delhi. He also co-founded Indiagosolar, India’s 1st solar e-commerce marketplace. Driven by his enterprising traits, he also served as a chairman, to renewable energy committee, PHD chambers and held a seat in the CII renewable task force, FICCI energy committee. Adding to his log of qualifications, he also took up a course in Applied Finance from IIM, Calcutta and is a Diploma holder in the same. Additionally, he also has a book that he authored, to his credit, titled - “Reforming Power sector Reforms: Multiple conflicts, Democratic Solution. The book discusses about electricity markets reforms and application of sophisticated statistical tools to do simulation & scenario planning. Harish regularly participates in national & global conferences to share his views on global energy landscape. His views are solicited & valued by energy industry in general & for renewable sector in particular. He upholds the belief that success is merely a journey and not a destination. One should always follow his heart and live up to his full potential.

Mr. Jose Kattoor

Independent Director

Mr. Anupam Kumar Verma

Director

Mr. Anupam Verma is part of the leadership team of ICICI Bank Limited with around 25 years of experience with the ICICI Bank. During this period, he has led businesses across diverse customer segments and geographies, including as Chief Executive of Singapore Branch & Regional Head for South-East Asia and Chief Executive for International Banking Unit Gift City. In his current role as Head of International Financial Institutions Group & Head Syndications, Mr. Verma is responsible for ICICI Group relationships with Financial Institutions in over 60 countries. He is also responsible for wholesale fund raising for all international offices of ICICI Group. In addition, he is also responsible for anchoring synergistic implementation of various initiatives, systems and processes across international geographies where the ICICI Group has its operations. He is also responsible for domestic and international debt syndication business. He also oversees representative offices in Nepal, Sri Lanka and Bangladesh. In his role as Chief Executive of Singapore Branch & Regional Head for South-East Asia (SEA), Mr. Verma led the Bank’s strategy in South-East Asia to play a significant role in capturing investment, Non-Resident Indian remittance, and trade flows between SEA and India in the client segments of Corporates (Global & Indian MNCs), Institutions (Sovereign wealth funds, Foreign Portfolio Investors & Private Equity Funds) and High Net worth NRIs. As Chief Executive of International Banking Unit (IBU) GIFT City he was instrumental in providing a platform for global businesses and NRIs to participate in the fast-growing Indian economy. Mr. Verma played a pivotal role in launching a domestic branch in Gift City (the first private sector bank) to fulfil the rupee needs of businesses and individuals in Gift City. Mr. Verma also worked closely with International Financial Services Centres Authority (IFSCA), the regulator, to conceptualize new business ideas in Gift City. During his tenure, Mr. Verma established a Memorandum of Understanding with GIFT Special Economic Zone (SEZ) to promote Gift City to Indian and global businesses. Mr. Verma is currently on the Board of SWIFT India, Receivable Exchange India Limited (RXIL) ICICI Bank, UK & ICICI Bank Canada. Mr. Verma has an engineering degree from the prestigious Indian Institute of Technology, Kanpur and also has a post graduate degree in Business Management from XLRI, Jamshedpur which is one of the premier management education institutes in India.

Mr. Ketan Gaikwad

Managing Director and CEO

Mr. A S Paul

Director