Central Bank of India shares edged higher on Tuesday after the lender announced a strategic partnership with C2FO Factoring Solutions to boost Trade Receivables Discounting System (TReDS) services for MSMEs across the country.
The stock was trading at ₹38.04 on the BSE, up 0.48% from its previous close of ₹37.86. During the day, it touched an intraday high of ₹38.16 and a low of ₹37.43. More than 5.05 lakh shares were traded on the counter. The bank’s market capitalisation stands at ₹34,350.07 crore.
Partnership Details
Through this collaboration, Central Bank of India will use C2FO Factoring Solutions’ licensed TReDS platform, branded as C2Treds, to offer seamless invoice discounting services. The move aims to improve liquidity for micro, small and medium enterprises (MSMEs) and foster greater financial inclusion.
C2FO Factoring Solutions, a wholly owned subsidiary of US-based C2FO, had received RBI approval on March 4, 2024, to operate as a TReDS platform. C2FO, established in 2010, has since expanded its operations globally.
Focus on MSME Financing
The partnership is in line with the Reserve Bank of India’s push to enhance digital financing options for MSMEs and ensure transparent and efficient management of trade receivables.
Central Bank of India continues to operate across multiple banking segments, including Treasury Operations, Corporate/Wholesale Banking, Retail Banking and other services.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
