New Delhi: BSE Technologies on Tuesday received policy approval from the Reserve Bank of India. A wholly owned subsidiary of BSE providing IT solutions.
TReDS is an electronic platform that facilitates the financing or discounting of micro, small and medium enterprise (MSMEs) business funds through multiple financiers. Business credits can come from corporations and other buyers, including government departments and public sector companies (PSUs).
The BSE-owned IT Solutions Provider states, “The TDS platform facilitates the loading, acceptance, discounting, trading and refunding of MSMEs, invoices or refunds of bills of all the aforesaid participants.
BSE Managing Director and CEO Ashish Kumar Chauhan said, “BSE Tech focuses on the products, banking and financial services markets and offers a wide range of IT solutions. We are confident that the launch of this TReDS site will help solve the financial problems of MSMEs and contribute to their growth.
Electronic Gold Receipts of BSE
In another set of developments, BSE noted that it is ready to introduce Electronic Gold Receipts (EGRs) on its platform, which will help create a uniform pricing framework for yellow metal across the country.
This comes after the SEBI board approved the plan for gold exchange. At present, India allows gold to be traded only on Gold Derivatives and Gold Exchange Trade Funds (ETFs), unlike some other countries that have spot exchanges for body trading in gold.
Also read: SEBI Rules for Gold Exchange, Silver ETF and other key decisions
The market regulator said, “The trade, approval and settlement features in EGRs will be similar to other securities currently available in India.”