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The electronic platform Trade Receivables Discounting System (TReDS) — introduced by the Reserve Bank of India (RBI) in 2014 for MSMEs to finance or discount their invoices — finances around 35,000 factoring units (FUs) per month, informed RBI Governor Shaktikanta Das at the Payment System Operators (PSO) Conference in Kochi on Saturday. “On an average 35,000 FUs worth Rs 7,200 crore are discounted or financed on TReDS every month,” Das said in his speech.

An FU is a standard nomenclature used in TReDS for invoices or bills of exchange containing details related to the sale of goods or services by an MSME seller to the buyer including a corporate, government department or a public sector unit.

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