Central Bank of India partners with C2FO Factoring Solutions Pvt. Ltd. for TReDS Business

Central Bank of India has announced a strategic partnership with C2FO Factoring Solutions Pvt. Ltd. to facilitate Trade Receivables Discounting System (TReDS) services for MSMEs across the country. This collaboration marks a significant step toward improving liquidity and financial inclusion for small and medium enterprises.

C2Treds, the platform of C2FO Factoring Solutions Private Limited, a wholly owned subsidiary of C2FO. C2FO is a US based organization which commenced its business in 2010 and expanded its activities to several countries.

C2FO Factoring Solutions Private Limited, has received the permission from the RBI on 04.03.2024 for operating as a TReDS Platform in the Name of C2Treds.

Under this partnership, Central Bank of India will leverage the capabilities of C2FO Factoring Solutions Pvt. Ltd. a licensed TReDS platform, branded as C2Treds, to offer seamless invoice discounting services. The move aligns with the Reserve Bank of India's push to expand digital financing avenues for MSMEs and promote transparent, efficient trade receivables management.

Shares of Central Bank of India was last trading in BSE at Rs. 37.86 as compared to the previous close of Rs. 38.19. The total number of shares traded during the day was 364935 in over 1400 trades.

The stock hit an intraday high of Rs. 38.45 and intraday low of 37.65. The net turnover during the day was Rs. 13892562.00.

Source : Equity Bulls

Keywords

CentralBankofIndia INE483A01010 StrategicPartnership C2FOFactoringSolutions TReDSServices