48. Which of the following statements is incorrect with respect to TReDS ?

1. It stands for Trade Related Discounting System.

2. It is an initiative of the Reserve Bank of India.

3. Its aim is to help cash-starved micro, small and medium enterprises (MSMEs) promptly encash receivables.

4. It is an online bill discounting platform that enables discounting of invoices/bills of exchanges of MSME sellers against large corporates, including Government departments and PSEs through an auction mechanism at competitive market rates.

Correct Answer :

It stands for Trade Related Discounting System.