Regulatory Alerts2026-06-23
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Reserve Bank of India (Trade Receivables Discounting System) Directions, 2026
These Directions establish a Master Direction for Trade Receivables Discounting System (TReDS) platforms, repealing previous 2014 guidelines and a 2023 circular. Existing TReDS entities must meet a minimum net-worth of ₹25 crore by March 31, 2028, and maintain this requirement on an ongoing basis. The framework permits financiers to avail credit guarantee cover and insurance for TReDS exposures, while prohibiting the levying of insurance premiums on sellers. Factoring units accepted on the platform are deemed without recourse to sellers, and platforms must file assignments with CERSAI and ensure buyer obligations are unconditional.
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