Mumbai: The Receivables Exchange of India (RXIL), an eight-year-old trade receivables discounting system (TReDS) platform, has enabled invoice financing of more than ₹2 lakh crore for MSMEs, allowing them to shorten working capital cycle through quicker financing access against receivables.
RXIL holds the largest market share in the segment at nearly 35%. In FY25 alone, the platform facilitated financing worth ₹80,500 crore, benefiting more than 44,000 MSMEs.
“Growth has been quite holistic; we have been increasingly targeting the corporate customers to come to the platform and the government has also been very proactive in bringing measures that promote TReDS,” said Ketan Gaikwad, MD, RXIL.
RXIL is a joint venture promoted by SIDBI and NSE, along with State Bank of India, ICICI Bank, and Yes Bank.
As per RBI data, at the end of May 2025, the four players operating in this space collectively financed bills worth ₹2.38 lakh crore.
“We have set up an internal target to discount bills more than ₹1.25 lakh crore in FY26; we have already crossed ₹24,000 crore in the June quarter,” Gaikwad told ET. “Between the three large TReDS platform you can expect market to grow more than ₹3.5 lakh crore in this fiscal year.”