The Reserve Bank of India granted approval to Mynd Solutions Pvt Limited to set up and operate M1xchange, the first trade receivable exchange in India. M1xchange has digitally transformed the process of gaining access to working capital for MSME's via invoice discounting through multiple financiers. M1xchange aims to provide MSME's Supply chain related cash flow finance at competitive rates through an open bid process via multiple financiers. Financing on M1xchange is “Without Recourse” to the MSME supplier as per RBI guidelines.
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