New Delhi, July 8 -- The Reserve Bank of India (RBI) is pushing for interoperability in the Trade Receivables Discounting System (TReDS) to promote greater competition among platform operators and prevent business concentration among a few entities, according to sources.

RBI Pushes for Interoperable TReDS Ecosystem

The RBI has already held discussions with industry participants and shared a process note outlining the proposed framework. While stakeholders have a broad understanding of the model, implementation is expected to take time.

At present, the three original TReDS platforms, Receivables Exchange of India Ltd. (RXIL), Invoicemart and M1xchange, account for nearly 90 percent of total transaction volume, according to RBI data for ...