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    <subfield code="a">Rajesh Ramakrishnan </subfield>
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    <subfield code="a">Gargi Sanati </subfield>
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    <subfield code="a">Democratising Supply-chain Finance for MSMEs: Could TReDS Be the Game Changer? </subfield>
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    <subfield code="a">EPW</subfield>
    <subfield code="f">Vol.60; No.45 - </subfield>
    <subfield code="g">08 Nov. 2025 </subfield>
    <subfield code="h">pp. 6-19</subfield>
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    <subfield code="a">Despite the significant contribution of micro, small, and medium enterprises, they face critical funding issues in the supply-chain process and are often at the mercy of large corporates or big manufacturers. MSMEs are not only financially weaker, with difficulties in sourcing capital, but they are also charged heavily by banks for the working capital fund. In this context, the introduction of TReDS as a price discovery mechanism for MSMEs is a significant step in ensuring financial stability in the supply chain.  </subfield>
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    <subfield code="a">Trade Receivables electronic Discounting System </subfield>
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    <subfield code="d">2025-11-22</subfield>
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