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Bank of Baroda Joins Hands With Invoicemart
January 19, 2018
Public sector Bank of Baroda has partnered with digital invoice discounting platform Invoicemart to discount invoices for the micro, small, and medium enterprises (MSMEs).
Invociemart works under the Trade Receivable Discount System (TReDS) which offers working capital to the MSMEs via the Internet without them having to apply for loans. The firm is a joint venture between Axis Bank and mjunction services ltd. which itself is a 50-50 joint venture involving the Streel Authority of India, and Tata Steel.
