Reg Roundup: India delivers receivables discounting guidelines; Russia passes local auditing protection rules; Thailand's new capital registration rule
The Reserve Bank of India issued guidelines for its new receivables discounting system; Russia passes laws protecting in-country financial services, such as auditing; Thailand's issues new capital registration rules.
India delivers guidelines for trade receivable financing scheme
The Reserve Bank of India (RBI) issued guidelines for its novel Trade Receivables Discounting System (TReDs), a scheme designed for setting up and operating facilities to finance India’s smaller companies. According to the RBI, the guidelines set out “the basic tenets of operating the TReDS, including the system participants, their roles, transaction process flow, settlement process” and also who is eligible for the scheme.
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