JK Bank Trade Receivable Discounting System (TReDS )

To participate on TReDS platform of RXIL 

In accordance to RBI Master Guidelines on Priority Sector Lending latest updated June 21, 2024, Factoring transactions pertaining to MSMEs taking place through the Trade Receivables Discounting System (TReDS) are eligible for classification under priority sector.

Bills discounting (advance against Factoring unit) 

Assignment of Factoring Unit i.e. invoice /bill of exchange against which bid is given by the bank.

Based on the obligation sheet, NPCI will debit the designated TReDS bank account and payment will be made to the seller against that particular Invoice/ Bill. 
Based such successful / settled Bids, RXIL will create assignment charge of the Bank and Assignment Document will be provided to the bank. 
Based on that assignment document, Branch will register its charge on CERSAI within prescribed timeline.
 

Period from Date of Discounting till Due Date subject to a maximum of 180 days.

0.25% p.a on factored amount