Jacob Raphael's Contact Details

Jacob Raphael's Company Details

M1xchange

Gurugram, Haryana, India • 501 - 1000 Employees
Financial Services

MYND Online National Exchange is an online exchange for Trade Receivables Discounting System "TReDS" set up under the approval of Reserve Bank of India (RBI) to facilitate discounting of invoices and Bills of exchange on a PAN India basis. Key participants to be Micro, Small & Medium Enterprises "MSME" ("the Seller"), large corporates including PSUs and Govt. Departments ("the Buyer") and Banks/NBFCs ("the Financier"). M1 aims to provide MSMEs Supply chain related cash flow finance at competitive rates through an open bid process through multiple financiers. Financing on M1 will be "Without Recourse" to MSME supplier as per RBI guidelines. M1 will employ the latest technologies to ensure the authenticity of the underlying transaction.RBI granted approval to Mynd Solutions in Dec 2015, to set-up and operate TReDS under the Payment and Settlement System (PSS) Act 2007. Mynd Solutions is one of the very few entities approved to set up the exchange.