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Which of the following statements is incorrect with respect to TReDS?
1
It stands for Trade Related Discounting System.
2
It is an initiative of the Reserve Bank of India.
3
Its aim is to help cash-starved micro, small and medium enterprises (MSMEs) promptly encash receivables.
4
It is an online bill discounting platform that enables discounting of invoices/bills of exchanges of MSME sellers against large corporate, including Government departments and PSEs through an auction mechanism at competitive market rates.