Members Speak

Usha International Ltd. (USHA) has been associated with SIDBI under Trade Receivable Finance Scheme since 1994 and enjoys excellent relationship. NTREES, an E-Discounting platform for Receivable Finance Scheme, joint initiative of NSE and SIDBI was launched in December 09. USHA, as a sincere business associate, volunteered itself to provide implementation / execution related support to SIDBI and NSE in its new endeavor which will help Medium and Small suppliers as well as Large corporates. Today, USHA being the first mover to this platform, is making 100% discounting through NTREES which is less time consuming, cost effective, paperless and has built-in Control mechanisms.

Suppliers Bills are uploaded to the NTREES through a Login ID provided by NSE and after acceptance of Bills by the corporate, Financier directly processes the payments electronically. Detail of funds being transferred are sent to Purchaser and supplier by SMS as well as E-mail. Introduction of New Suppliers to NTREES platform is self-certified, Discounting of bills is simple and information about Discounting Rate, Discounting Charges, Due Date etc are easily available on click of a button.

We are extremely happy and we congratulate NSE and SIDBI for this initiative. However, we are waiting for Stage-II of NTREES when various financial institutions other than SIDBI would be able to participate in the discounting to make the process more competitive and transparent.

Dinesh Chhabra, Executive Director and CFO, Usha International Limited