Factoring provides resources to financing receivables as well as facilitates the collection of receivables. Although such services constitute a crucial segment of the financial services scenario in the developed countries, they appeared in the Indian financial scene only in the early nineties as a result of RBI initiatives. There are two bank sponsored organisations which provide such services: (i) SBI factors and Commercial Services, and (ii) Canbank Factors Ltd. The first private sector factoring company, Foremost Factors Ltd, started operations since the beginning of 1997.

reCAPTCHA is required.

Share This