Receivables Exchange of India Limited (RXIL)

Receivables Exchange of India Ltd (RXIL) is an Indian market infrastructure company operating the Trade Receivables Discounting System (TReDS) platform, established to improve access to working capital for micro, small, and medium-sized enterprises (MSMEs).

RXIL is a joint venture promoted by Small Industries Development Bank of India (SIDBI) and National Stock Exchange of India Limited (NSE). The platform enables MSMEs to discount their trade receivables raised on large corporates and public-sector buyers, facilitating faster liquidity through a transparent, electronic marketplace.

RXIL operates in line with the TReDS guidelines issued by the Reserve Bank of India, supporting the formalisation of receivables finance, improved cash-flow management, and stronger participation of MSMEs in India’s supply chains.