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PTI Last Updated at 09 Aug 2018, 19:08 IST India

The Garden Reach Shipbuilders and

Engineers Ltd today became the first Defence PSU to get itself

activated on the TReDS (Trade Receivable Discounting System)

platform with necessary IT integration, post completion of

security checks and testing, a Defence spokesperson said here.

Rear admiral (retd) Vipin Kumar Saxena, chairman and

managing director of GRSE Ltd inaugurated the TReDS system of

payment mechanism to vendors under MSME category through TReDS


The on boarding of the defence public sector units

(PSU) will benefit over 500 MSMEs, the spokesperson said.

"This Make In India initiative brings MSME sellers,

corporate and other buyers including government departments,

PSUs and financiers together onto a common platform, to

facilitate discounting and settlement of invoices at the

earliest," the spokesperson said.

With the implementation of TReDS, challenges faced by

the micro, small and medium enterprises (MSME) on account of

shortage of working capital for their regular business

operations will be taken care of.

This platform enables discounting of invoices of MSME

vendors against large buyers through auction mechanism

ensuring prompt realization of trade receivables at

competitive market rates and helps avoid the constraints in

obtaining financing, the spokesperson said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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