New Delhi, Jan. 27 -- Gurugram-based M1xchange which provides trade receivables discounting system to MSMEs has urged the Union Finance Minister Nirmala Sitharaman to roll out a Factoring Guarantee Fund which would make banks put lower capital on the table then currently required to build a factoring book.
Expressing the firms expectation from the upcoming union budget, Sundeep Mohindru, CEO at M1xchange told KNN India, The Factoring Guarantee Fund should result in loosening purse strings of banks and more money (limits) getting allotted for factoring receivables of MSMEs.
Appreciating the Emergency Credit Line Guarantee Scheme (ECGLS) scheme, Mohindru referring to SBI report said that the scheme saved lakhs of jobs by helping MSMEs ...